Buyout vehicle Resolution expects to have £500m of excess cash to return to shareholders over the next 12 months after completing its work examining the cash and capital position of Friends Life, its new proposition formed from the merger of Friends Provident and Axa's UK life and pensions business.
The cash falls into two components: excess cash currently held at the Guernsey top company, which is being returned immediately by way of a £250m share buyback; and surplus cash expected to be released...
Nick Greenwood – the former manager of the £2.2bn Berkshire Pension Fund – died earlier this month.
The UK continues to lag behind its global counterparts for retirement security, ranking 17th out of 44 nations in Natixis Investment Managers’ global retirement index.
This week's edition of Professional Pensions is out now.
Henry Tapper is often described as Britain’s most controversial pensions blogger. Kim Kaveh meets him on his boat, Lady Lucy, to talk about pensions past, present and future.
This week's Pensions Buzz respondents were split over which political party would be best for pensions.