PPF consults on levy rule for schemes with no substantive sponsor
The Pension Protection Fund (PPF) is proposing a new levy rule for schemes that cease to have a substantive sponsor following a restructuring in order to protect other levy payers.
In a consultation document published yesterday the lifeboat fund said it remains concerned that levy payers would be directly exposed to the risk of failure of such a scheme's investment strategy. It...
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Pension Schemes Bill gets final approval and waits for Royal Assent
The long-debated Pension Schemes Bill has received parliamentary approval, guaranteeing its place on the statute book.
Evonik scheme completes £544m full buy-in with L&G
The defined benefit (DB) scheme of Evonik Holdings UK has agreed a £544m full buy-in with Legal & General (L&G) Assurance Society.
Exclusive: Market volatility to spur £30bn of buy-ins and buyouts in 2021
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.
FCA data reveals over £20bn of DB transfers between 2018 and 2020
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.
Trustees will need to be corporate finance experts under new TPR powers
Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.
