Mercer
UBS completes £1.4bn longevity swap with Zurich and Canada Life
The UBS (UK) Pension and Life Assurance Scheme has hedged the longevity risk of around half its defined benefit (DB) liabilities through a £1.4bn longevity swap completed with Zurich and Canada Life Reinsurance.
Bulk annuities help sponsors outperform peers on share prices
Sponsors whose pension schemes complete buy-ins or buyouts tend to outperform their peers by between 0.25% and 3% on average, Mercer research finds.
Big three pension consultants post combined revenues of £1.14bn in 2019
The revenue of the three biggest pension consultancy firms in the UK fell slightly in 2019, dropping from £1.16bn in 2018 to £1.14bn in 2019.
UPDATED: The UK's biggest pension consulting firms by revenue
PP has analysed the accounts of the biggest pension consulting firms and recorded the turnover (revenue) in their most recent accounts. The full leaderboard is below…
Available on demand... Dan Melley, Niall O'Sullivan and Susan Andrews among speakers at PP's inaugural DeskFlix event
The first virtual event of PP’s DeskFlix series took place on 23 June
DB funding - May 2020: PPF 7800 deficit surges by 37%
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the May 2020 estimates on the various measures…
Aviva appoints chair and trustee to master trust board
Barnett Waddingham non-executive chairwoman Elizabeth Renshaw-Ames has been named as trustee chairwoman of Aviva Master Trust.
Nick Salter: Focusing on people, not the financials
Ahead of stepping down as senior partner next week, Nick Salter tells James Phillips about building Barnett Waddingham up to £100m in turnover, his client-first mantra, and his desire for greater consumer trust.
L&G agrees £650m buy-in with 3i scheme
The 3i Group Pension Plan has agreed a £650m buy-in with Legal & General (L&G), insuring the remaining benefits within the scheme.
Engaging members on financial wellbeing
Charlotte Moore looks at industry efforts to why improving members' financial wellbeing and retirement planning is crucial in a crisis situation.
How to help DC members approaching retirement during Covid-19
Jim Doran looks at how trustees of DC pension schemes can help members who are looking to retire.
Patrick Bloomfield elected next ACA chair
Hymans Robertson scheme actuary and partner Patrick Bloomfield has been elected chair of the Association of Consulting Actuaries (ACA).
Exclusive: Prudential names Bruce Rigby as IGC chair
Industry veteran Bruce Rigby has been appointed as the chair of Prudential’s Independent Governance Committee (IGC).
Co-op agrees £350m buy-in with Aviva
The Co-operative Pension Scheme (Pace) has entered into its fourth bulk annuity transaction of 2020, agreeing a £350m buy-in with Aviva.
DB funding - April 2020: Deficit falls by £7bn, says PPF
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the April 2020 estimates on the various measures…
Chris Martin: Where next for Independent Trustee Services?
Chris Martin speaks to James Phillips about Independent Trustee Services’ plans since its management buyout and his experience working with stressed and distressed schemes.
Agreeing bulk annuities in a crisis
After a bumper year, insurers are now facing a slower and smaller pipeline as schemes grapple with Covid-19, writes James Phillips.
Two-thirds of pension firms cut gender pay gaps
Asset managers have made considerable improvements in their gender pay gaps, with an average narrowing of 2.6 percentage points, Professional Pensions analysis finds.
Alternatives: Treading a different path through the crisis?
With UK pension schemes holding significant allocations to alternatives, Dan Melley looks at how they have weathered the latest crisis.
Fraser Smart: Seeking a nirvana for BA pension members
Technology is at the heart of BA Pensions’ drive to help members and it wants to share that with others. James Phillips speaks to BA Pensions chief executive Fraser Smart.
Baroness Drake and Mark Condron join The People's Pension trustees
The People’s Pension (TPP) has appointed Baroness Jeannie Drake and Mark Condron to its board of trustees.
PIC insures £400m of liabilities in Co-op's third buy-in of 2020
The Co-operative Pension Scheme (Pace) has agreed its third buy-in this year, insuring £400m of liabilities in the Co-operative Bank section of the scheme with Pension Insurance Corporation (PIC).
DB funding - March 2020: 114 schemes fall into deficit in March, says PPF
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the March 2020 estimates on the various measures…
Castings enters into buy-in contract with Aviva
Castings has agreed a £72m buy-in contract for its two defined benefit pension schemes with Aviva.
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