The vast majority of schemes now have a clear long-term objective, but unfortunately for most that destination is getting further away, says Aon Hewitt.
Jonathan Stapleton looks at the implications for asset allocation
Total bulk annuity business in by the end of 2012 was £4.4bn, compared to £5.2bn in 2011, Aon Hewitt research shows.
The Pensions Regulator has named Andrew Warwick-Thompson as its executive director for defined contribution governance and administration.
Aon Hewitt will work with the local government pension scheme committee and officers in managing the fund and meeting a number of regulatory requirements.
Aon Hewitt has appointed Dan Morris to its investment consulting team.
BAE Systems has agreed a £3.2bn longevity swap to cover 31,000 pensioners, in the UK's largest pensions insurance transaction.
Schemes should start preparing for GMP equalisation as it could take years to fully implement, consultants warn.
Stock market gains over the last two months have reduced deficits and put buyouts within reach of more schemes, says Aon Hewitt.
Royal Borough of Kingston upon Thames pension fund has hired Aon Hewitt as its investment consultant ahead of a review of the fund's investment strategy and asset allocation.