THE trustee of the Cable & Wireless Superannuation Fund has bought out its pensioner liabilities in a bulk annuity buy-in worth over £1bn.
The book covers the pensioners in payment element of the Cable & Wireless scheme – or around 5000 members in total. Cable & Wireless will continue to administer the fund and the terms of the pension payments...
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.