Insurance companies now account for 6.5% of all UK defined benefit (DB) pension scheme liabilities following another record year for risk transfers.
Figures from Hymans Robertson showed insurers managed the risk associated with £110bn worth of liabilities after £38bn was insured in 2014 - over twice as much as the previous year. There was a flurry...
'Not appropriate to comment'
Proposals for mandatory tendering of fiduciary management services, as well as additional guidance for trustees, have been welcomed by industry commentators albeit with some caution.
Sterling has fallen on the back of inflation figures released this morning, which show the UK Consumer Price Index (CPI) remained steady at 2.4% in June.
John Wotton says the competition watchdog's package of proposals will help trustees get the best deal and be satisfied they are acting in their members' best interests