The ESAB Group (UK) Limited Pension & Life Assurance Scheme has purchased a £255m full buy-in with Rothesay Life, covering benefits for all 900 members of the scheme.
The bulk annuity is expected to move out to a buyout in the future, at which point the scheme will be wound up. The transaction also includes 220 deferred members of the welding and cutting equipment...
Multinational communication services giant WPP has completed a £250m buy-in for two of its pension schemes with Pension Insurance Corporation (PIC) as the insurer celebrated a “healthy pipeline” of deals amid the Covid-19 outbreak.
Many key pension scheme risks fall outside the IRM framework and are therefore often left unmitigated. Matthew Giles looks at how to tackle these areas.
The fall in pricing of credit assets due to Covid-19 has made bulk annuities more affordable for schemes with significant gilt holdings, according to XPS Pensions.
While market conditions may have put a dent in your de-risking plans, there is still plenty of preparation you can do and opportunities to take advantage of, says Michael Abramson.
Another £1.2bn of defined benefit (DB) scheme liabilities were insured by Just Group last year, according to its preliminary full-year results.