The Institution of Engineering and Technology (IET) pension scheme has insured £50m of pensioner liabilities through a buy-in with Pension Insurance Corporation (PIC).
This is the second bulk annuity transaction for the IET Superannuation and Assurance Scheme to date, reducing the risk and improving the security for the remaining 300 uninsured members. The first transaction...
'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