Multinational communication services giant WPP has completed a £250m buy-in for two of its pension schemes with Pension Insurance Corporation (PIC) as the insurer celebrated a “healthy pipeline” of deals amid the Covid-19 outbreak.
Following the Competition and Marketing Authority's investigation, Nick Reeve looks at how trustees can prepare for the formal tender process required for the selection of fiduciary managers.
The Pension Insurance Corporation (PIC) boosted its financial investments last year by nearly £10bn to £40.9bn, up from £31.4bn the year prior, according to its full-year results.
Here they are. The finalist lists for the UK Pensions Awards 2020.
British American Tobacco’s (BAT) overall net liability for its pensions and healthcare schemes in group subsidiaries nearly doubled in the year to 31 December 2019 to £1.03bn from £518m the year prior.
This week’s top stories included the launch of Scottish Widows’ new responsible investment team, and reports of Treasury plans to cut pension tax relief for high earners.
This week’s top stories included The Pensions Regulator’s announcement of new measures around the appointment of professional trustees, and the £3bn Merchant Navy Officers Pension Fund completing a £1.6bn buy-in with Pension Insurance Corporation.
The trustees of the £3bn Merchant Navy Officers Pension Fund (MNOPF) have secured £1.6bn of members’ pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).
Pension Insurance Corporation (PIC) insured £7.2bn of scheme liabilities over the course of 2019, recording more new business than in any year prior.
This week’s top stories include an article about women remaining at risk of running out of money in retirement, and one about Buck winning 36 additional client contracts since launching as an independent business last year.
Pension Insurance Corporation (PIC) has agreed a £750m bulk annuity transaction, converting a pensioner longevity swap held by the Scottish Hydro Electric Pension Scheme (SHEPS) into a buy-in.
Pension Insurance Corporation (PIC) has boosted its investment in social housing with a £40m further allocation to Soha Housing.
As the risk reduction market gets busier and busier, Jonathan Stapleton says preparations must become more comprehensive for schemes to gain a foothold.
Around £17.5bn of buy-ins and buyouts were transacted in the first half of the year as market records continue to tumble.
The British American Tobacco (BAT) UK Pension Fund has completed a £3.4bn buy-in with Pension Insurance Corporation (PIC), the largest buy-in transaction including pensioner and deferred members.
Pension Insurance Corporation (PIC) is investing £100m of debt funding in East Midlands Housing (EMH) Group.
Pension Insurance Corporation (PIC) has invested £40m in debt issued by Scottish Borders-based Eildon Housing Association.
Pension Insurance Corporation (PIC) has announced plans to raise further debt capital in order to support business growth in a burgeoning bulk annuity market.
Pension Insurance Corporation (PIC) has so far racked up £5.8bn of buyouts and buy-ins with defined benefit schemes this year, while reinsuring £7bn of longevity risk, it has revealed.
The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.
The Work and Pensions Committee (WPC) has criticised Arcadia's proposals to halve the deficit recovery contributions of its pension schemes as part of a company restructure.
Pension Insurance Corporation (PIC) has entered into a £40m agreement with Greatwell Homes to support the development of 600 affordable homes in Northamptonshire.
The trustees of the Dresdner Kleinwort Pension Plan have completed a full £1.2bn buy-in with Pension Insurance Corporation - covering the scheme's £900m final salary section as well as a £300m money purchase section.
Pension Insurance Corporation (PIC) has entered a £65m agreement with Livin Housing to develop affordable housing in County Durham.