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...
This week's top stories included Legal & General acquiring MyFutureNow to provide a dashboard service to customers, while also agreeing a hybrid buy-in with a Hitachi scheme.
NEST has signed up to the government-backed Star Initiative, taking all of its 8 million members' pension pots with it.
It is perhaps inherently difficult to find an agreed definition of value for money, but some methodologies could act as a stopgap, argues Jonathan Stapleton.