Legal & General Assurance Society has acquired closed UK annuity buy-out company Lucida from LCM Holdings in a deal worth £151m.
The deal, which is subject to Financial Conduct Authority and Prudential Regulation Authority approval, is expected to complete in the third quarter, L&G said. Lucida was founded in 2006 to focus on...
This week's edition of Professional Pensions is out now.
Nearly 60% of UK employers consider defined contribution (DC) master trusts to be the "most suitable" pension fund for their employees, according to research by Buck.
Companies which have tried to dodge their pension duties by changing their identities are being "hunted" by The Pensions Regulator (TPR) in a crackdown on non-compliance with auto-enrolment (AE).
Removing liquidity restrictions would enable DC funds to capitalise on the potentially higher and safer returns that DB schemes have benefitted from, says Patrick Marshall.