Hilary Salt asks if it is legitimate for trustees who have a fiduciary duty to members to assume that surplus should only be spent on locking in to lower returns
I'm not a great follower of fashion but my son is often keen to alert me to the latest fad. I was thrilled when he messaged me the other week to tell me I could dig out my old denim jacket from the archives...
There have now been more than 30 longevity swaps over £1bn publicly announced. The full list, provided by Willis Towers Watson and through PP research, is as follows...
The Association of British Insurers (ABI) Pension & Assurance Scheme has insured benefits for 191 members in a £26m buy-in with Aviva.
The defined benefit (DB) scheme of Shepherd Foods (London) has completed a £3m buyout with Aviva, insuring the benefits of 13 pensioner and deferred members.
General Motors has agreed a £53m bulk purchase annuity transaction with Aviva for the Vauxhall Associated Companies Pension Fund (VACPF).
Rothesay has completed a £6m follow-on buyout with an unnamed aviation scheme, insuring benefits of eight pensioners and 31 deferred members.