buyout
Exclusive: 90% of DB schemes have set a long-term funding target
Almost all UK defined benefit (DB) schemes (92%) have set clear long-term funding targets, with most focused on buyout or self-sufficiency, according to Aon.
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.
Most schemes targeting self-sufficiency over buyout
The majority of pension schemes that are using a long-term funding target are focused on self-sufficiency, Aon research has revealed.
GMP equalisation now top priority for schemes
Guaranteed minimum pension (GMP) equalisation has soared to the top of pension schemes' to-do lists, with 58% stating it is a priority project, research from Equiniti has revealed.
Bulk annuity market breaks yet another record with £17bn of first half deals
Around £17.5bn of buy-ins and buyouts were transacted in the first half of the year as market records continue to tumble.
Plumbing pension scheme valuation completed as future accrual ceases
The Plumbing and Mechanical Services (UK) Pension Scheme has completed its 2017 valuation, calculating scheme assets were enough to cover 102% of its liabilities.
PICA launches reinsurance counterparty to back UK bulk annuities
Prudential Insurance Company of America (PICA) has launched a reinsurance counterparty, lending support to insurers that account for more than 90% of the UK pension risk transfer market.
Applying behavioural science to pensions risk settlement
Tendencies to prefer the status quo and familiar names can result in slower or more irrational decisions, Aon says. James Phillips explores the impediments to risk settlement.
Five stories you may have missed this week
This week's top stories included The Pensions Regulator launching a consultation on the future of trusteeship.
Rothesay Life completes £700m of bulk annuity deals in H1
Rothesay Life completed around £700m of bulk annuity transactions in the first half of 2019, according to its latest trading update.
Bulk annuity transactions will top £15bn in H1, predicts LCP
Lane Clark and Peacock (LCP) has predicted the total volume of buy-ins and buyouts will surpass £15bn in the first half of this year, more than double 2018 H1 volumes.
PIC signs £5.8bn of bulk annuity business in H1
Pension Insurance Corporation (PIC) has so far racked up £5.8bn of buyouts and buy-ins with defined benefit schemes this year, while reinsuring £7bn of longevity risk, it has revealed.
How Rolls-Royce completed its £4.6bn buyout with L&G
Following Rolls-Royce's record buyout earlier this month, James Phillips speaks to some of the key players about the process.
DB scheme closures accelerating following benefit reviews
UK defined benefit (DB) schemes have increasingly undertaken benefit reviews over the last four years resulting in an acceleration of scheme closures, Aon research finds.
Five stories you may have missed this week
This week's top stories included Legal & General completing a record-breaking buyout with the Rolls-Royce UK Pension Fund, and the government setting out plans for flexible NHS pensions.
Legal & General completes record-breaking £4.6bn partial buyout with Rolls-Royce
The Rolls-Royce UK Pension Fund (RRPF) has insured benefits for around 33,000 pensioners in a record-breaking buyout with Legal & General (L&G).
Keep on running: The challenges of a self-sufficiency approach
Boris Mikhailov looks at the risks and benefits for schemes targeting self-sufficiency
FTSE 100 buyouts 'could boom to £300bn' over next decade
The volume of insured buyouts from FTSE 100 defined benefit (DB) schemes could increase from £5bn to £300bn by 2029, according to Lane Clark & Peacock (LCP).
PIC posts £7.1bn of bulk annuity deals in 2018 taking nearly a third of the market
Pension Insurance Corporation's (PIC) bulk annuity business transacted £7.1bn of buy-ins and buyouts over the course of 2018, its annual results reveal.
Phoenix delivers £800m of bulk annuities in first year in market
Phoenix Group transacted £800m of bulk annuities in 2018, its first year in the market since completing a deal with its own scheme two years ago.
L&G posts 10% rise in profits; LGIM unveils 18% rise in DC assets
Legal & General (L&G) has published its 2018 results, revealing a 10% rise in operating profits driven by strong growth in both its retirement and defined contribution (DC) businesses.
Insurers favour conversion method of GMP equalisation, Hymans Robertson finds
Insurance companies offering buy-ins and buyouts prefer pension schemes which adopt the D2 method of equalising guaranteed minimum pensions (GMPs), Hymans Robertson has found.
The key considerations for dealing with GMP equalisation
Panellists at a PP webinar discuss October's High Court judgment on GMP equalisation, how schemes have responded, what their strategies should be, and how the industry can approach it.
Is your scheme really buyout ready?
Jane Kola looks at what pension funds can they do to improve their chances of concluding a successful deal on good terms
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