Aon has improved the buyout position of one if its defined benefit (DB) schemes after undertaking a bulk enhanced transfer value (ETV) exercise.
Has had 'positive' dialogue with FCA
Deferred members dominate the DB universe but the high cost of insuring them makes bulk annuities out of reach for many schemes, even more so since the introduction of Solvency II. Kristian Brunt-Seymour explores what schemes can do.
Defined benefit (DB) deficits at FTSE350 companies have swelled by £34bn since 2010 despite £15bn being paid into them annually.
A number of firms and bodies have given their support to the revised Incentive Exercises Code which has been updated in light of the pension freedoms.
Transfer values have dropped by 2.2% since 31 March 2015 which underscores the volatility of transfer values during those two months says Xafinity.
The Pensions Regulator (TPR) is set to launch a consultation on fresh guidance for defined benefit (DB) trustees handling transfer requests.
Members could be losing money because administrators are taking longer to process defined benefit (DB) pension scheme transfers, according to experts.
Defined benefit (DB) trustees should consider increasing the transfer values they offer to members in light of the upcoming liberalisation of defined contribution (DC) regulation, according to Mercer.
The Financial Conduct Authority (FCA) has found evidence of poor pension transfer advice with regards to enhance transfer value (ETV) exercises.