The ITV pension scheme has entered into a £1.7bn longevity swap with Credit Suisse to fully hedge the longevity risk for 12,000 of its pensioner members.
Under the contract, the firm will make fixed monthly payments to Credit Suisse who will, in turn, make payments to the scheme that broadly match the value of benefits being paid out. The deal - the...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter