PICA
Five stories you may have missed this week
This week's top stories included HSBC's scheme completing a £7bn longevity swap with PICA and the government announcing it would review the tapered allowance for NHS scheme members.
Bulk annuity market breaks yet another record with £17bn of first half deals
Around £17.5bn of buy-ins and buyouts were transacted in the first half of the year as market records continue to tumble.
HSBC scheme completes £7bn longevity swap with PICA
The HSBC Bank (UK) Pension Scheme has hedged its longevity risk with Prudential Insurance Company of America (PICA) in the second-largest ever deal of its type.
Aviva completes £1bn longevity reinsurance deal with Prudential
The Prudential Insurance Company of America (PICA) has agreed to assume approximately £1bn of pension liabilities from Aviva's bulk annuity business.
Scottish Widows completes £1.3bn longevity reinsurance deal with Prudential Financial
Scottish Widows has reinsured the longevity risk for around £1.3bn of its bulk annuity liabilities with The Prudential Insurance Company of America (PICA).
Pru reinsures $1.2bn of PIC's longevity risk
Prudential Insurance Company of America has agreed to reinsure around $1.2bn (£920m) of Pension Insurance Corporation's (PIC) longevity risk.
MMC Pension Fund completes mammoth £3.4bn longevity risk transfer
The Marsh & McLennan Companies (MMC) UK Pension Fund has finalised a £3.4bn longevity risk transfer to the global reinsurance market through a captive solution.
PIC reinsures £760m longevity risk in Aon plan
Prudential Insurance Company of America (PICA) has completed its third longevity reinsurance deal with the Pension Insurance Corporation (PIC) for the Aon Retirement Plan.
BT's £16bn longevity swap opens the door for more mega deals
Jack Jones looks at the implications of a record-breaking exercise
ABI annuity code of conduct 'must go further'
The mandatory code of conduct on retirement choices for all Association of British Insurers (ABI) members, set to be enforced from 1 March, must go further to better help consumers, annuity campaigners have said.
PICA requests adviser help for pension directory
The Pensions Income Choice Association (PICA) has issued a request for information to develop a directory of financial intermediaries.
MetLife joins PICA as annuity shopping debate heats up
Battle lines are being drawn over the open market option as ministers are set to decide on reform this autumn.
OMO can be revamped 'within the year' - PICA
The open market option could be reformed "within the year" if government and industry get behind the process, the Pension Income Choice Association says.
ECJ ruling a sideshow compared to OMO 'scandal'
The impact of the European Court of Justice decision on gender pricing of annuities will be insignificant compared to the effect of the "dysfunctional" Open Market Option system, an industry body warns.
McPhail calls for reform of trivial commutation
People with several small occupational pensions should be able to group them together for trivial commutation, Hargreaves Lansdown head of pensions research Tom McPhail says.
