Royal Bank of Scotland's (RBS) defined benefit (DB) pension scheme has reached 120% funding after the bank made a big cash payment to plug its deficit hole.
At 30 June 2016 the scheme had an unrecognised aggregate surplus under IAS 19 valuation principles, reflected by a ratio of assets to liabilities of 120%, according to its half year results. It comes...
Rothesay has concluded a £120m buy-in with the West Ferry Printers Pension Scheme, covering all remaining pensioner and deferred liabilities.
The Metropolitan Tower Life Insurance Company (MetLife) has reinsured approximately $5bn (£3.6bn) of Rothesay pension liabilities.
DB scheme consolidator Stoneport hopes to get 100 schemes signed up by the end of next year, but employer covenant will be vital, chief executive Richard Jones tells James Phillips.
The outlook for future longevity in the UK has not necessarily worsened as a result of the coronavirus pandemic, Aon says.
Although 2020 was a challenging year, Aon's Dave Barratt says the bulk annuity market was very resilient, with a well-functioning insurance market, large volumes of business written and 2020 finishing up as the second busiest year on record.