The Pension Protection Fund (PPF) has warned that the £630m levy paid by schemes to fund the organisation is likely to rise by an average of approximately 10% in September.
The lifeboat fund's executive director of financial risk Martin Clarke told delegates the aggregate levy would have to go up as a result of the increased risk posed to the PPF by historically high deficits....
The money used to insure pension liabilities can help met the government’s agenda to ‘build, build, build’, says Johnny Chow
The UBS (UK) Pension and Life Assurance Scheme has hedged the longevity risk of around half its defined benefit (DB) liabilities through a £1.4bn longevity swap completed with Zurich and Canada Life Reinsurance.
The Brandsby Agricultural Trading Association (BATA) has agreed a £13m buyout with Legal & General (L&G), securing benefits for all 120 members of the BATA Superannuation Pension Scheme.
The IPC Media Pension Scheme has agreed a £290m buy-in with Rothesay Life, insuring benefits for around 500 pensioner members.
The Willis Pension Scheme has entered into a longevity swap transaction with Munich Re to manage longevity risk in relation to around £1bn of pensioner liabilities.