The combined pensions deficit of the UK's biggest companies has remained broadly unchanged over the last 12 months according to figures from JLT Employee Benefits (JLT EB).
JLT Employee Benefits (JLT EB) has named former Prudential head of corporate pensions Martyn Bogira as a director responsible for its defined contribution (DC) and contract-based offerings.
The trustees of an unnamed construction firm's scheme have agreed a medically underwritten buy-in with Partnership Assurance to cover £33m of liabilities associated with the fund's pensioner members.
JLT Employee Benefits (JLT EB) has appointed James Staveley-Wadham as principal amid increased demand for its de-risking services.
JLT Employee Benefits (JLT EB) head of investment consulting Peter Ball has left the group and corporate consulting director John Breedon has stepped into the role.
The British Arab Commercial Bank pension scheme trustees have entered the first whole-of-market medically underwritten buy-in with Partnership.
The JLT UK Group Pension Scheme has completed a further buy-in contract with Prudential to insure £85m of its defined benefit (DB) liabilities.
Defined benefit (DB) schemes' deficits have fallen on average over 2013 and funding levels have remained high, JLT Employee Benefits (JLT EB) figures show.
Schemes concluded a record £3.9bn of buyouts and buy-ins in the third quarter of 2013, says JLT Employee Benefits.
Basel III is encouraging financial services companies to consider defined benefit (DB) scheme buyouts and buy-ins to move liabilities off their balance sheets, experts say.