The majority of sub-£250m schemes plan to achieve a buyout as their scheme’s endgame even if pricing opportunities are not necessarily in their favour, Mercer research finds.
Pension Insurance Corporation (PIC) concluded £5.6bn on bulk annuities in 2020 after recording just over £2.1bn in the second half of the year.
Last year proved so significant that it merits an evaluation of governance arrangements, according to four in five respondents to a poll.
The Northern Gas Networks Pension Scheme has agreed a £385m pensioner buy-in with Legal & General (L&G).
Pension scheme trustees and sponsors should only seek to transfer members’ benefits to a defined benefit (DB) consolidator if there is no “realistic prospect of buyout in the foreseeable future”, The Pensions Regulator (TPR) says.
Mercer has launched a defined benefit (DB) master trust in a bid to offer a “best-in-class solution” that recognises the shrinking universe.
Consultants, trade bodies, and professional societies across the pensions industry have responded relatively positively to guidance from The Pensions Regulator (TPR) that has today signalled a clear start for defined benefit (DB) scheme consolidation...