Pension Insurance Corporation (PIC) has reinsured the longevity risk relating to £2bn of liabilities with Hannover Re and Reinsurance Group of America this year.
Most of the risk was passed on to the reinsurance market as part of a ‘back-to-back' deal in which the insurer wrote a £1.6bn buy-in with oil firm Total and immediately transferred the longevity risk (PP...
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.