Pension risk transfer volumes this year will look similar to those in 2020 as market volatility creates opportunities for schemes able to act fast, according to Willis Towers Watson.
Between £30bn and £40bn of pension risk is expected to be transferred to insurers via buy-ins and buyouts this year, Aon says.
The Aon Retirement Plan has completed a £510m pensioner buy-in with Scottish Widows, insuring members in the Aon Bain Hogg Pension Scheme section.
The National Grid UK Pension Scheme has completed an £800m buy-in with Rothesay, its second bulk annuity transaction with the insurer.
The number of defined benefit (DB) scheme members with benefits protected by an insurer will double by the middle of the decade, according to Lane Clark & Peacock (LCP).
The Old British Steel Pension Scheme (OBSPS) has agreed a £2bn full buy-in with Pension Insurance Corporation (PIC), one step closer to exiting Pension Protection Fund (PPF) assessment.
Much like when selling a house, DB plans need to tidy up before approaching the bulk annuity market, says David Ellis.
With a recent rise in the number of smaller schemes undertaking bulk annuity transactions, Charlotte Quarmby sets out why now might be the right time for smaller pension schemes looking to de-risk.
Two in five UK defined benefit (DB) schemes expect to complete a bulk annuity or longevity swap transaction within the next three years, Willis Towers Watson research finds.
Darryl Brundle and Ashley Kanter look at the contrasting pressures and easements on longevity associated with the pandemic
Fewer pension schemes are targeting self-sufficiency as their long-term objective while bulk annuity pricing improves and the consolidation market opens up.
Around £50bn of risk will be transferred to the bulk annuity and longevity swap market by the end of the year despite a slow start to the market, Aon says.
A burgeoning superfund market could be on the cards within three years as defined benefit (DB) scheme trustees and sponsors face myriad legislative, economic, and capacity issues, says Lane Clark & Peacock (LCP).
Around £12.6bn of buy-ins and buyouts were completed in the first half of 2020 despite the onset of the Covid-19 pandemic, according to Lane Clark & Peacock (LCP) analysis.
This year might prove to be a blip in the growth of the bulk annuity market despite volumes trending towards £25bn, according to Mercer.
Just Group completed £460.3m of bulk annuity deals in the six months to 30 June, its half-year results have revealed.
Defined benefit (DB) schemes will have to wait an extra year and a half on average to agree a buyout compared to their pre-Covid-19 endgame journey plans, Barnett Waddingham estimates.
The Countrywide Farmers Retirement Benefits has secured a £100m buy-in with Legal & General, insuring members’ benefits above Pension Protection Fund (PPF) compensation levels.
Sponsors whose pension schemes complete buy-ins or buyouts tend to outperform their peers by between 0.25% and 3% on average, Mercer research finds.
Covid-19 has caused a slowdown in the number of bulk annuity transactions, with buy-ins and buyouts expected to amount to a maximum of £25bn this year, Willis Towers Watson says.
The Unomedical Pension Plan has agreed to a £10m buyout of its 65 members’ liabilities with Aviva.
Chris DeMarco explains why the Covid-19 has increased opportunities for schemes to de-risk via bulk annuities.
Keen insurer pricing and streamlined services will lead to a surge in demand from smaller schemes to undertake bulk annuity transactions, Lane Clark & Peacock (LCP) predicts.
With bulk annuity markets becoming increasingly busy before Covid-19, James Geer looks at what steps trustees can take to improve their chances of transacting.