Isio

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Global travel firm Tui has agreed two buy-ins worth a total of £794m with Legal & General (L&G) Assurance Society, insuring two sections of the Tui Group UK Pension Trust.

Turbulent markets damaged fiduciary managers’ ability to achieve client-specific objectives, says Isio, with none meeting the target.

Trustees have been warned to keep an eye on weakening employer covenants even after a positive aggregate funding experience in the last three years as myriad funding and investment issues pose risks to defined benefit (DB) schemes.

The Nortel Networks UK Pension Plan has agreed a further £105m buyout with Legal & General (L&G), topping up the benefits agreed in a prior deal.

Here it is, our monthly digest of the most important pension articles Professional Pensions has written and published over the last month, along with some contextual notes.

Professional trustee firms are beginning to dominate the pensions landscape with the top 12 firms alone now appointed to 1,900 schemes with around £800bn of assets and posting business growth of 14% per annum, a report from Isio finds.

This week’s top stories included Isio’s first financial results, while the Association of British Insurers insured 191 members’ benefits in a £26m buy-in with Aviva.