Legal & General

Retirement savings of millions of members could be hit with significant losses if pension providers do not step up action on climate risks, according to research.

An analysis of IGC annual reports finds some lacking in information on value for money, costs and charges, and investment performance. James Phillips explores the findings

Hymans Robertson has appointed Michael Abramson as a partner and risk transfer specialist to grow its risk reduction offerings.

Legal and General (L&G) has reinsured $800m (£598m) of longevity risk relating to pension liabilities in its bulk annuity business through Prudential Retirement Insurance and Annuity Company (PRIAC).

The £3bn Merchant Navy Officers Pension Fund (MNOPF) has insured around 2,500 pensioner members in a £490m buy-in with Legal & General (L&G).

The Pearson Pension Plan has agreed two buy-ins worth £1.2bn and has laid the groundwork for more bulk annuity contracts in the future.

Auto-enrolment has proved a great success in its first five years, says Chris Knight, but the financial services sector has much work to do to ensure Britain's workers actually end up enjoying a comfortable retirement.

The Cabinet Office has named Legal & General as the preferred provider for the civil service's defined contribution (DC) scheme.

PP can reveal Adrian Boulding will step down as policy strategy director at the Tax Incentivised Savings Association (TISA) at the end of November.

Defined benefit (DB) schemes will offload around £700bn of liabilities to insurers over the next 15 years, latest analysis by Hymans Robertson has suggested.