Lane Clark Peacock

Around £12.6bn of buy-ins and buyouts were completed in the first half of 2020 despite the onset of the Covid-19 pandemic, according to Lane Clark & Peacock (LCP) analysis.

A dozen UK investment consulting firms have established a group aiming to improve sustainable investment practices across the investment industry.

The Marathon Service (GB) Limited Pension and Life Assurance Scheme has completed a £610m full buy-in with Rothesay Life, covering the benefits of more than 1,400 members.

Three quarters of pension schemes believe they will be ready to join the pensions dashboard if they have two years to prepare, the Pensions and Lifetime Savings Association (PLSA) finds.

This week’s top stories included the launch of the #100blackinterns project, while the Siemens Benefits Scheme agreed a £530m buy-in with Legal & General.

Lane Clark & Peacock (LCP) reported record income of £126.5m for the financial year ending 31 March 2020, up 10.1% on last year’s figure of £114.9m, also a record at the time.

Consultants have warned that cost constraints are holding defined contribution (DC) schemes back, responding to a Department for Work and Pensions’ (DWP) consultation on the effectiveness of costs, charges and transparency measures.

The ICI Pension Fund has completed its ninth buy-in with Legal & General (L&G), insuring a further £70m of benefits and bringing total insured benefits with L&G to around £5.8bn.

The Littlewoods Pensions Scheme has completed a buy-in covering just under £930m of around 6,500 members’ benefits with Rothesay Life, the majority of which relate to deferred members.

Alan Casey sets out how schemes can use HMRC GMP listings even where they are riddled with errors