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  • Events
    • Upcoming events
      event logo
      Admin & Data Forum 2021

      This concise half-day event will explore a variety of different issues affecting scheme managers, through a combination of informative presentations and interactive panel debates, including GMP equalisation, the pensions dashboard, the accuracy and quality of members data and the latest trends in scheme administration.

      • Date: 04 Mar 2021
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      Defined Benefit Consolidation Conference

      Professional Pensions is hosting this concise digital event on the 25th March to provide a crucial update on where the current regulation stands on DB Consolidators, assess the different models available, what the expected funding levels are and the governance requirements. This event will be a combination of short presentations followed by live Q&A’s with our expert speakers allowing plenty of time to answer your questions.

      • Date: 25 Mar 2021
      • Digital Conference
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      Sustainable Investment Festival 2021

      The Sustainable Investment Festival will run online from 22-24 June and will include thought-provoking presentations from renowned keynote speakers, innovative breakout events and sessions specifically tailored to meet the information needs of fund selectors, financial advisers, pension consultants, trustees and scheme managers.

      • Date: 22 Jun 2021
      • Online, Online
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      UK Pensions Awards 2021

      The UK Pensions Awards – now in their 24th year – remain the industry's most prestigious accolades. They shine the light on excellence and recognise the advisers, providers and investment managers that offer the highest level of innovation, performance and service to occupational pension schemes and their members, and have done the most to improve this over the past year.

      • Date: 14 Sep 2021
      • London
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  • Whitepapers
    • How DC schemes can gain exposure to different asset classes in a low-return environment

      So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).

      Download
      Pension freedoms three years on

      In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.

      Download
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  • Spotlights
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Professional Pensions
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    You are currently accessing ProfessionalPensions via your Enterprise account.

    If you already have an account please use the link below to sign in.

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bulk annuity

Bulk annuity volumes still to hit £25bn this year
Bulk annuity volumes still to hit £25bn this year

Around £25bn of buy-ins and buyouts are set to be transacted this year despite the Covid-19 challenges, according to Lane Clark & Peacock (LCP).

  • Risk Reduction
  • 17 April 2020
Castings enters into buy-in contract with Aviva
Castings enters into buy-in contract with Aviva

Castings has agreed a £72m buy-in contract for its two defined benefit pension schemes with Aviva.

  • Risk Reduction
  • 01 April 2020
Market volatility making bulk annuities more affordable
Market volatility making bulk annuities more affordable

The fall in pricing of credit assets due to Covid-19 has made bulk annuities more affordable for schemes with significant gilt holdings, according to XPS Pensions.

  • Risk Reduction
  • 25 March 2020
PIC boosts financial investments by £10bn in 2019
PIC boosts financial investments by £10bn in 2019

The Pension Insurance Corporation (PIC) boosted its financial investments last year by nearly £10bn to £40.9bn, up from £31.4bn the year prior, according to its full-year results.

  • Industry
  • 09 March 2020
Aviva reports 55% rise in bulk annuity purchase volumes
Aviva reports 55% rise in bulk annuity purchase volumes

Aviva’s bulk purchase annuity volumes increased 55% to £4bn in the year to 31 December 2019 its full year results reveal.

  • Industry
  • 05 March 2020
Scottish Widows completes £2bn de-risking deals in 2019
Scottish Widows completes £2bn de-risking deals in 2019

Scottish Widows completed five bulk annuity transactions in 2019, with liabilities insured exceeding £2bn.

  • Risk Reduction
  • 21 February 2020
Rothesay Life agrees £255m full buy-in with ESAB scheme
Rothesay Life agrees £255m full buy-in with ESAB scheme

The ESAB Group (UK) Limited Pension & Life Assurance Scheme has purchased a £255m full buy-in with Rothesay Life, covering benefits for all 900 members of the scheme.

  • Risk Reduction
  • 16 December 2019
Bulk annuity market to 'top £0.5trn in 2020s'
Bulk annuity market to 'top £0.5trn in 2020s'

The value of UK bulk annuity deals is set to quadruple in the 2020s when compared to this decade, Mercer has predicted.

  • Risk Reduction
  • 09 December 2019
National Grid agrees £1.6bn buy-in with L&G in second deal this year
National Grid agrees £1.6bn buy-in with L&G in second deal this year

The National Grid UK Pension Scheme has agreed its second buy-in this year, transferring £1.6bn of pension risk to Legal & General (L&G).

  • Risk Reduction
  • 26 November 2019
Insurers are letting down small DB schemes
Insurers are letting down small DB schemes

Without specialist help, smaller DB schemes are being left behind in a bulk annuity market increasingly focused on mega-deals, says Rob Dales.

  • Defined Benefit
  • 25 November 2019
PIC converts Scottish Hydro-Electric Pension Scheme longevity swap into £750m buy-in
PIC converts Scottish Hydro-Electric Pension Scheme longevity swap into £750m buy-in

Pension Insurance Corporation (PIC) has agreed a £750m bulk annuity transaction, converting a pensioner longevity swap held by the Scottish Hydro Electric Pension Scheme (SHEPS) into a buy-in.

  • Risk Reduction
  • 13 November 2019
Aviva completes £1.7bn buy-in with its staff pension scheme
Aviva completes £1.7bn buy-in with its staff pension scheme

Aviva Life and Pensions UK has completed a £1.7bn bulk annuity buy-in with the Aviva Staff Pension Scheme.

  • Risk Reduction
  • 24 October 2019
2019's 'jumbo' bulk annuities bigger than any full-year volume
2019's 'jumbo' bulk annuities bigger than any full-year volume

Small schemes are facing “obvious challenges” in grabbing insurer attention as “jumbo” deals are beginning to typify the bulk annuity market, Aon says.

  • Risk Reduction
  • 21 October 2019
Exclusive: FTSE 100 risk settlement transactions hit £70bn
Exclusive: FTSE 100 risk settlement transactions hit £70bn

FTSE 100 risk settlement transactions have reached £70bn as a third of these firms remove longevity risk, according to Aon.

  • Risk Reduction
  • 09 October 2019
Five stories you may have missed this week
Five stories you may have missed this week

This week’s top stories include Thomas Cook’s four pension schemes being poised to enter a Pension Protection Fund assessment period.

  • Industry
  • 27 September 2019
Allied Domecq agrees £3.8bn buy-in with Rothesay Life to take 2019 deals past £30bn
Allied Domecq agrees £3.8bn buy-in with Rothesay Life to take 2019 deals past £30bn

The Allied Domecq Pension Fund has insured £3.8bn of members’ benefits with Rothesay Life, in the market’s largest deal to cover both pensioner and deferred members.

  • Risk Reduction
  • 27 September 2019
Rothesay Life agrees £4.7bn buyout of GEC scheme; Biggest ever deal smashes 2018 volumes
Rothesay Life agrees £4.7bn buyout of GEC scheme; Biggest ever deal smashes 2018 volumes

Rothesay Life has agreed the UK’s largest ever bulk annuity deal to date – a £4.7bn buyout of the GEC 1972 Plan, making 2019 officially a record-breaking year.

  • Risk Reduction
  • 26 September 2019
'Fashionable' buy-ins delaying journey to buyout
'Fashionable' buy-ins delaying journey to buyout

Pension schemes could be accidentally pushing themselves further from their endgame by agreeing “fashionable” buy-ins with insurers.

  • Risk Reduction
  • 25 September 2019
Schemes urged to act on bulk annuities as funding 'crumbles'
Schemes urged to act on bulk annuities as funding 'crumbles'

Defined benefit (DB) schemes should act now to insure members’ benefits before an “anomaly” in the markets is corrected, Prudential Retirement has said.

  • Risk Reduction
  • 17 September 2019
Five stories you may have missed this week
Five stories you may have missed this week

This week’s top stories included The Pensions Regulator launching a prosecution against the director of a professional trustee firm, and the regulator approving five master trusts.

  • Industry
  • 13 September 2019
L&G agrees £35m buyout with Edwards Wildman Palmer scheme
L&G agrees £35m buyout with Edwards Wildman Palmer scheme

Legal & General (L&G) has entered into an agreement with US law firm Locke Lord for a £35m buyout of UK-based Edward Wildman Palmer pension scheme.

  • Risk Reduction
  • 11 September 2019
Rothesay Life secures record year with £3.7bn bulk annuity deals in H2
Rothesay Life secures record year with £3.7bn bulk annuity deals in H2

Rothesay Life has completed £3.7bn of bulk annuity transactions so far in the second half of this year, according to its latest trading update.

  • Risk Reduction
  • 10 September 2019
The potential pitfalls of a buy-in
The potential pitfalls of a buy-in

While buy-ins can provide an immediate reduction to liability values, schemes run the risk of retaining key risks and storing up problems, says Jos Vermeulen

  • Risk Reduction
  • 09 September 2019
Just Group exploring DB de-risking partnership while bulk annuity deals fall
Just Group exploring DB de-risking partnership while bulk annuity deals fall

Just Group is exploring a defined benefit (DB) de-risking partnering approach as part of the development of a capital light fee business, according to its half-year results.

  • Defined Benefit
  • 04 September 2019
123

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BT, Ford and M&S schemes granted extension for legal challenge over government's decision to align RPI with CPIH
BT, Ford and M&S schemes granted extension for legal challenge over government's decision to align RPI with CPIH
Rothesay secures £7bn of pension benefits
Rothesay secures £7bn of pension benefits
BA defers £450m of DRCs after 'swift and severe' pandemic closures
BA defers £450m of DRCs after 'swift and severe' pandemic closures
Scottish Widows adds 289,000 members to build workplace market presence
Scottish Widows adds 289,000 members to build workplace market presence
TPR publishes full details of charity pension trustee fraud case
TPR publishes full details of charity pension trustee fraud case
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