De-risking
Getting a better bulk annuity price from your insurer
Nimble footwork enables small schemes to compete with the big boys in the buyout market, says Stephanie Hawthorne.
PIC posts record year for bulk annuities
Pension Insurance Corporation (PIC) insured £7.2bn of scheme liabilities over the course of 2019, recording more new business than in any year prior.
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.
Scottish Widows completes buy-ins totalling £830m with Peugeot and QinetiQ
Scottish Widows has completed two bulk annuity transactions totalling £830m, insuring benefits for the Peugeot Advanced Pension Plan and the QinetiQ Pension Scheme.
Let's make discretionary increases fashionable again
Hilary Salt asks if it is legitimate for trustees who have a fiduciary duty to members to assume that surplus should only be spent on locking in to lower returns
What does 2019 hold in store for DB pensions?
Buck's David Piltz says the industry was shaped by several developments in 2018, many of which will continue to influence the sector this year.
FTSE 100 schemes increase bond allocation to de-risk
Two-thirds of FTSE 100 DB schemes invest more than 50% of assets in bonds to tackle investment mismatching, according to JLT research. Victoria Ticha takes a closer look
Civil Aviation Authority completes £60m pension buy-in with PIC
Pension Insurance Corporation (PIC) has completed a £60m buy-in deal for the Civil Aviation Authority's defined benefit (DB) scheme.
600 Group enters £201m buyout with PIC
Trustees of the 600 Group's defined benefit (DB) pension scheme have agreed to a £201m buyout with Pension Insurance Corporation (PIC).
BMO combines credit with LDI to simplify de-risking
Funds that match and link credit with liability-driven investing (LDI) have been launched by BMO Global Asset Management in a bid to simplify the process of de-risking defined benefit (DB) schemes.
PA Pension Scheme completes £850m buyout with PIC
PA Consulting has completed a full buyout of its £850m scheme with Pension Insurance Corporation (PIC).
Pensions regulation is too prescriptive, say respondents
Majority of respondents agree with the PLSA that regulation is too micro-managerial
Zurich names first head of longevity risk transfer
Greg Wenzerul has been appointed Zurich's first head of longevity risk transfer, as it seeks to grow its business in the market.
Prudential sells £12bn annuity book to Rothesay Life
Prudential has sold £12bn in annuity assets to reinsurance business Rothesay Life as part of its M&G demerger announced today.
Aon grows risk settlement team with hire from Scottish Widows
Aon has appointed Mike Edwards as a partner in its risk settlement team to support the growth of its business offerings in the UK.
Five stories you may have missed this week
This week's top stories include articles about the CMI's latest mortality projections model and its accompanying report, which show a clear trend in life expectancy.
WPP completes £140m buy-in deal with PIC to insure five schemes
Five schemes sponsored by advertising firm WPP have completed a buy-in with Pension Insurance Corporation - insuring £140m of pensioner and deferred liabilities.
Investor confidence rose in January; Growing appetite for risk amid global growth
Investor confidence in Europe rose by 16.0 points in January with each region showing growing appetite for risk, according to research by State Street Global Exchange.
National pensions debate needed before de-risking bubble bursts
A national debate is needed to consider whether the investment approach of defined benefit (DB) schemes is storing up problems for the future, Institute of Chartered Accountants of Scotland (ICAS) president Sir Brian Souter has said.
DB schemes insuring wrong tranche of members in buy-ins
Trustees are increasingly using buy-ins to reduce pensioner liabilities. But, as James Phillips discovers, they could be failing to extract maximum value from these deals.
Only a third of schemes have formal de-risking journeys
More than half (55%) of defined benefit (DB) schemes are now cashflow negative, yet many do not have formal de-risking plans, according to research.
Cancer Research completes £250m buy-in with Canada Life
The trustees of the Cancer Research UK Pension Scheme have signed a £250m pensioner buy-in with Canada Life, bringing the insurer into the mid-range de-risking market.
Aon Minet improves buyout position by £60m through ETV
The Aon Minet Pension Scheme has successfully completed a bulk enhanced transfer value (ETV) exercise in the latest stage of its de-risking strategy.
Aon urges continued caution on longevity price dislocation
Aon Hewitt is reiterating its call for pension schemes to review the emerging lower rates of UK mortality improvement to ensure fair pricing of longevity insurance transactions.
