Scottish Power has completed a longevity swap with Abbey Life to hedge £1bn of liabilities, covering 4,000 pensioners in the Manweb section of the Electricity Supply Pension Scheme.
The swap was structured as a tri-partite insurance policy between the Electricity Pension Trustee, the Group Trustee and Abbey Life Assurance Company. It will hedge against the risk of rising costs as...
The Universities Superannuation Scheme (USS) trustee board has warned investment returns will be lower in the future than expected as it edges closer to concluding its 2020 valuation.
The defined benefit (DB) scheme of Evonik Holdings UK has agreed a £544m full buy-in with Legal & General (L&G) Assurance Society.
Pension risk transfer volumes this year will look similar to those in 2020 as market volatility creates opportunities for schemes able to act fast, according to Willis Towers Watson.
Pension transfer values ended 2020 at £259,000, 8% higher than the start of the year, according to XPS Pensions, after suffering periods of substantial volatility linked to the pandemic while potential scams reached record highs.
The Pension Schemes Bill has been scheduled for ping-pong, its penultimate step before becoming law.