The Reckitt Benckiser Pension Fund has secured a £415m buy-in with Scottish Widows, insuring the benefits of around half of pensioners.
Two in five UK defined benefit (DB) schemes expect to complete a bulk annuity or longevity swap transaction within the next three years, Willis Towers Watson research finds.
Covid-19 has caused a slowdown in the number of bulk annuity transactions, with buy-ins and buyouts expected to amount to a maximum of £25bn this year, Willis Towers Watson says.
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).
Longevity swap transactions will hit a record-breaking level of £25bn this year, Willis Towers Watson has predicted.
Around £8bn of buy-ins and buyouts were completed in the first half of this year, writing the highest volume of deals of any first half to date.
Schemes looking to take advantage of attractive longevity swap pricing face a number of challenges in 2018. Victoria Ticha looks at some of the key themes.
Longevity hedges have long been considered a hurdle to doing a bulk annuity, but a ground-breaking deal shows it doesn't have to be. Stephanie Baxter looks at why converting swaps into buy-ins is taking off.