The Pension Insurance Corporation (PIC) has priced £250m of subordinated debt issuance to meet expected bulk annuity demand from defined benefit (DB) schemes.
The debt will have an annual coupon of 8.0%, a maturity of 10 years and it is proposed the bonds will be traded on the London Stock Exchange. PIC chief financial officer Rob Sewell said: "We have had...
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.
The Pensions Regulator’s (TPR) long-term funding approach will put extra financial pressure on UK pension scheme sponsors, according to Aon.