The beleaguered Nortel Networks UK Pension Plan has entered into a £2.4bn buyout with Legal & General (L&G), insuring members' benefits nearly a decade after its sponsor collapsed.
The benefits of more than 15,500 pensioners and 7,200 deferred members are now guaranteed in excess of Pension Protection Fund (PPF) levels, despite the scheme being just 40% funded on a section 75 basis...
The Old British Steel Pension Scheme (OBSPS) has agreed a £2bn full buy-in with Pension Insurance Corporation (PIC), one step closer to exiting Pension Protection Fund (PPF) assessment.
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.
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.