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...
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers