The Cadbury Mondelēz Pension Fund has agreed a £520m buy-in with Rothesay Life, insuring benefits for around 1,900 pensioner members.
The deal relates to a representative subset of pensioner liabilities, with the premium paid in gilts and cash. Alongside a £500m buy-in completed in 2009, the scheme has now insured around 20% of its £4.6bn...
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.
The Carter & Parker Limited Staff Retirement Benefits Plan (1975) has agreed a £9.3m bulk annuity deal with Canada Life.