Aon

The Co-operative Pension Scheme (Pace) has entered into its fourth bulk annuity transaction of 2020, agreeing a £350m buy-in with Aviva.

A poll of UK defined benefit pension schemes shows many are no longer in support of The Pension Regulator’s (TPR) proposed funding code after a second look at its implications, according to Aon.

After a bumper year, insurers are now facing a slower and smaller pipeline as schemes grapple with Covid-19, writes James Phillips.

Half of UK pension schemes have sent “reassuring communications” to members during the Covid-19 pandemic, according to Aon.

The Pensions Regulator’s (TPR) annual funding statement aims to keep up pressure on schemes but tries to avoid putting undue strain on employers at a time of crisis, the industry says.

The Leonardo Electronic Pension Scheme has concluded a £160m pensioner buy-in with Just Group in the scheme’s first risk transfer exercise.

The National Pension Trust’s global equity fund has been named as the best performing growth phase default fund over one and three years in a research report published by Defaqto.

The Society of Pension Professionals (SPP) has named James Riley as president for a two-year term beginning 1 June.

The Co-operative Pension Scheme (Pace) has agreed its third buy-in this year, insuring £400m of liabilities in the Co-operative Bank section of the scheme with Pension Insurance Corporation (PIC).

Pension schemes should “stick to their convictions” and long-term policies in the face of market falls caused by Covid-19, Aon says.