The Wiggins Teape Pension Scheme has agreed a £400m pensioner buy-in with Scottish Widows in the insurer's first foray into the bulk annuity market.
The transaction insures all of the scheme's current pensioners and covers approximately two thirds of its total liabilities. It involved a premium payment process that allowed the scheme to lock down...
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.