The ICI Pension Fund has completed four buy-ins over the last year to take its total benefits insured past £5bn in a strategy advisers say sets a blueprint for other large schemes.
The scheme completed buy-ins worth £800m with Prudential in November 2014 and June this year, and secured a further £1bn of benefits in deals with Legal and General (L&G) in March and June of this year....
Defined benefit (DB) schemes should act now to insure members’ benefits before an “anomaly” in the markets is corrected, Prudential Retirement has said.
Growing market volatility could adversely affect defined benefit (DB) schemes nearing buyout over the next five years, Barnett Waddingham says.
Legal & General (L&G) has entered into an agreement with US law firm Locke Lord for a £35m buyout of UK-based Edward Wildman Palmer pension scheme.
Rothesay Life has completed £3.7bn of bulk annuity transactions so far in the second half of this year, according to its latest trading update.
While buy-ins can provide an immediate reduction to liability values, schemes run the risk of retaining key risks and storing up problems, says Jos Vermeulen