Exclusive: £50bn of buy-ins need restructuring after GMP equalisation ruling

James Phillips
clock • 2 min read

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 ins...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Risk Reduction

Haberdashers scheme sews up £3m buy-in deal with Just Group

Haberdashers scheme sews up £3m buy-in deal with Just Group

Bulk annuity transaction secures the benefits for scheme whose sponsor was founded in 1448

Martin Richmond
clock 12 July 2024 • 2 min read
De-risking funded reinsurance arrangements in the UK life insurance sector

De-risking funded reinsurance arrangements in the UK life insurance sector

Francis Richard Pereira assesses how changes to regulation will impact the PRT market

Francis Richard Pereira
clock 10 July 2024 • 7 min read
Institute of Civil Engineers scheme agrees £35m buy-in with Aviva

Institute of Civil Engineers scheme agrees £35m buy-in with Aviva

Deal insures the benefits of around 300 pension scheme members

Jasmine Urquhart
clock 10 July 2024 • 2 min read
Trustpilot