Pension Insurance Corporation (PIC) has concluded a £300m buy-in with the trustees of the VA Tech UK Pension Scheme, including a retrocession to Siemens' captive reinsurer.
The transaction for the defined benefit (DB) scheme, which is sponsored by Siemens, was split into two tranches of pension liabilities insured. This included £100m of liabilities which were first insured...
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.