The Co-operative Pension Scheme (Pace) has agreed a £1bn buy-in with Pension Insurance Corporation (PIC), insuring benefits for around 7,000 members.
The deal relates to the Co-op section of the segmented scheme. It is the fourth announced bulk annuity transaction this year, with £4.7bn of pension risk transfer already agreed, hot on the heels of last...
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.
After a year dominated by mega bulk annuity deals, K3 Advisory looks at how the Carter and Parker scheme made its £9.3m buy-in attractive to insurers.
Nimble footwork enables small schemes to compete with the big boys in the buyout market, says Stephanie Hawthorne.