Mercer

Andrew Short points to the massive consumer potential of India and China

The Pensions Regulator's guidance on defined contribution schemes should have been bolder, the industry warns.

Almost 100 bulk annuity and longevity swap deals worth more than £50m have taken place in the UK since 2007 as part of an international trend, Mercer research says.

Mercer Employee Benefits is to defend itself at the High Court later this year after a hotel group filed a £250,000 claim for breach of contract.

The European Union has endorsed revised accounting standards for schemes which will cut UK firms' reported profits by £10bn and could trigger an increase in de-risking.

An actuarial and consultancy procurement framework for local government pension schemes will launch next month promising "better prices" for schemes.

A recent ruling classing early retirement benefits as the responsibility of the acquiring company in an asset deal will add "cost and uncertainty" to mergers and acquisitions, Mercer says.

The Pensions Management Institute and Mercer will offer a joint service providing information and support around discontinuing schemes.

The £1.4bn Akzo Nobel longevity swap completed last week is predicted to be the first in a wave of transactions in 2012 and 2013.

The Actuarial Profession's Continuous Mortality Investigation suggests schemes must hold 10% more assets per pound of benefit promised for managers than for lower paid employees, Mercer says.