Interest rate rises have seen unhedged scheme funding positions improve dramatically
Deal secures benefits for 89 deferred members and 52 active members
Benefits have been insured for members in a scheme of a global retail business
K3 Advisory and Cartwright support deal with large proportion of deferred members
K3 Advisory issues warning to schemes to keep on top of preparations
Deferred-heavy deal follows a similar transaction in 2018
The defined benefit (DB) scheme of Shepherd Foods (London) has completed a £3m buyout with Aviva, insuring the benefits of 13 pensioner and deferred members.
Rothesay has completed a £6m follow-on buyout with an unnamed aviation scheme, insuring benefits of eight pensioners and 31 deferred members.
The Civil Aviation Authority (CAA) and Sydney Packett & Sons have agreed bulk annuity deals for their pension schemes with Legal & General (L&G) respectively.
This week’s top stories included the launch of Scottish Widows’ ESG exclusions policy, while Deloitte acquired the admin and actuarial business of Kerr Henderson.