The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.
The consultant's end game research - which polled over 150 trustees and scheme managers in April - found a third (32%) of schemes are targeting buyout outright, with a further 5% aiming to run the scheme...
Pension Insurance Corporation (PIC) has agreed a £750m bulk annuity transaction, converting a pensioner longevity swap held by the Scottish Hydro Electric Pension Scheme (SHEPS) into a buy-in.
There has been a 30% reduction in the number of small scheme buy-in and buyout transactions, highlighting how insurer attention has shifted towards larger deals.
Aviva Life and Pensions UK has completed a £1.7bn bulk annuity buy-in with the Aviva Staff Pension Scheme.
Many schemes are actively thinking about defined benefit (DB) consolidation and are waiting in the wings for the superfunds to prove themselves before engaging, Clara says.
Mega-deals have dominated the buy-in and buyout market this year, limiting insurer appetite for smaller transactions. John Breedon looks at how small schemes can get ahead for next year.