buyout

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.

Industry figures are expecting a host of de-risking insurance deals to be undertaken by "quasi-public sector" schemes in the coming months.

FTSE350 buyout liabilities are surging towards £1trn forcing schemes to abandon buyout plans and move forward with alternative de-risking strategies, Aon Hewitt says.

Trustees of the Morris Ashby Limited Pension Scheme have completed a £38m buyout deal with Pension Insurance Corporation removing its liabilities from the Pension Protection Fund.

The Nova Chemicals UK Pension Plan has agreed a £30m buyout with Pension Corporation covering the liabilities of its 155 members.

Scheme risk transfer deals totalling £1.4bn were completed last quarter with five providers concluding business in excess of £150m, Hymans Robertson analysis finds.

The aggregate pension deficit for the UK's biggest companies dropped by 63% in the last year thanks to shifting indexation measures and continuing high levels of employer contributions.