The trustees of the Siemens defined Benefit (DB) scheme have completed a buy-in with Pension Insurance Corporation (PIC), covering around 6000 members.
Defined benefit (DB) schemes are not taking advantage of "exceptional" pricing for bulk annuities, with most schemes insured in H1 being repeat buyers, Aon Hewitt has said.
Smiths Group's TI Group Pension Scheme has insured £130m of pensioner liabilities with Pension Insurance Corporation (PIC), bringing the scheme's total insured liabilities to £1bn.
The total value of annuity deals was 30% higher in 2016 than at the previous market peak in 2014, Aon Hewitt's UK Risk Settlement Bulletin has revealed.
The trustees of the Aon Retirement Plan have concluded a buy-in with Pension Insurance Corporation (PIC) for around a third of the £3bn-4bn scheme.