The funding deficit of the British Steel Pension Scheme (BSPS) has dropped from £550m to £90m as a result of cost cutting measures agreed following tough negotiations.
On completion of the fund's 31 March 2014 triennial valuation, the trustees and sponsor Tata Steel UK agreed on steps to improve the employer covenant and address the shortfall with deficit recovery payments...
Much like when selling a house, DB plans need to tidy up before approaching the bulk annuity market, says David Ellis.
Just Group has completed a £340m buy-in with the Ibstock Pension Scheme in the insurer’s largest ever bulk annuity transaction.
Punter Southall has launched a defined benefit (DB) scheme consolidator in a bid to allow small schemes to cut their running costs, reduce risk and improve benefit security and governance.
Regulatory guidance “could set too high a hurdle” for superfunds, Lane Clark and Peacock (LCP) warns.
With a recent rise in the number of smaller schemes undertaking bulk annuity transactions, Charlotte Quarmby sets out why now might be the right time for smaller pension schemes looking to de-risk.