Insurers are set to face a "flood of requests" from pension schemes for buy-in contracts to be restructured to allow for guaranteed minimum pension (GMP) equalisation, Aon warns.
More than £50bn of buy-ins have been agreed in the market over the last 10 years, and the majority of them include ‘future-proofing' clauses to allow schemes to update the structure of benefits insured....
The value of UK bulk annuity deals is set to quadruple in the 2020s when compared to this decade, Mercer has predicted.
Greater regulatory focus on covenant, holistic risk management, and long-term targets has helped proactive schemes approach their endgames earlier, says Adolfo Aponte.
The National Grid UK Pension Scheme has agreed its second buy-in this year, transferring £1.6bn of pension risk to Legal & General (L&G).
Without specialist help, smaller DB schemes are being left behind in a bulk annuity market increasingly focused on mega-deals, says Rob Dales.
Interest around DB consolidators is high but there remains regulatory uncertainty around their future. Lesley Carline looks at what the future might hold for this section of the market.