buyout

Trustees and sponsors looking to begin the de-risking process might often wonder where to start.

Pensioner buy-ins are becoming increasingly attractive relative to holding gilts for pension funds, according to a price tracking service launched by Hymans Robertson.

This could be a dire year for schemes as last year's losses are compounded in the first quarter and crystallised for the 40% of schemes with triennial valuations in March, warns Pension Corporation.

Pension schemes are considering whether to exchange gilt holdings for buy-in insurance policies as yields fall to record lows, Hymans Robertson says.

The Pensions Regulator's former chairman David Norgrove has launched an insurance company that aims to cut the cost of buyouts by encouraging sponsors to take an equity investment in the initiative.

Less than a quarter of finance directors are aware of the effect of auto-enrolment on their company pension, according to research.

More than £2bn of pension fund liabilities was transferred in the third quarter of the year through buy-ins, buyouts and longevity swaps, Hymans Robertson analysis shows.

The Association of British Insurers and National Association of Pension Funds have published updated guidance for trustees considering buy-ins or buyouts.

Bulk annuity business was up fivefold in the second quarter of the year, but falling affordability pushed schemes towards buy-ins rather than buyouts, research shows.

The T&N Retirement Benefit Scheme has agreed a £1.1bn buy-in after its funding level was found to exceed the threshold for Pension Protection Fund entry.