Five stories you may have missed this week

Five stories you may have missed this week
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The top stories this week were the High Court's decision to block the £12bn annuity transfer from Prudential to Rothesay Life, and a separate court ruling that 'raises the bar' for pension rectification exercises.

1. Court blocks £12bn annuity transfer from Prudential to Rothesay Life

The High Court has blocked the £12bn transfer of Prudential's annuity book to Rothesay Life, citing the insurer's lack of "established reputation" and differing "capital management policies".

2. Court ruling 'raises the bar' for pensions rectification cases

Pension schemes have been warned they may now face a more challenging legal test if they wish to fix drafting errors.

3. Exclusive: LCP posts 16% growth in DC revenues and record revenue

Lane Clark and Peacock achieved a record total revenue of £114.9m in the 2018/19 financial year, partly helped by a 15.5% growth in revenues from its defined contribution business.

4. XPS appointed as adviser for the Greene King Pension Scheme

The Greene King Pension Scheme has appointed XPS Pensions as its actuarial and investment adviser following a competitive tender process.

5. Raise state pension age to 75 and boost 'employee-tailored' mid-life MOTs, says think-tank

The Centre for Social Justice is calling for the state pension age to be raised to 70 by 2028 and to 75 by 2035, a much faster rise than currently planned.

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Prudential has agreed an annuity deal with L&G
Prudential agrees annuity deal with L&G

Legal and General (L&G) Retail Retirement has agreed an introducer agreement within its retirement income division to provide annuities to Prudential customers with guaranteed rates.