News

The defined benefit (DB) scheme of Evonik Holdings UK has agreed a £544m full buy-in with Legal & General (L&G) Assurance Society.

Pension risk transfer volumes this year will look similar to those in 2020 as market volatility creates opportunities for schemes able to act fast, according to Willis Towers Watson.

Pension transfer values ended 2020 at £259,000, 8% higher than the start of the year, according to XPS Pensions, after suffering periods of substantial volatility linked to the pandemic while potential scams reached record highs.

Broadstone has been sold by Livingbridge to Intermediate Capital Group (ICG) for an undisclosed sum.

Mobius Life has launched a service to provide pension schemes with a report which collates asset managers’ ESG themes to help trustees complete their annual implementation statements.

Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.

Fintech workplace savings business Cushon has launched a net-zero pension available now to savers who want to “actively contribute towards slowing climate change”.

Online provider Pension Bee has created a flexible pension for self-employed savers, allowing them to make contributions according to their income.

Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.

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