News

MetLife has completed its first UK longevity reinsurance transaction, covering the risk of £280m of Pension Insurance Corporation (PIC) liabilities.

This week’s top stories included The Pension Regulator’s launch of interim guidance for the superfund market, while the regulator also extended Covid-19 easements and resumed some reporting requirements.

The number of eligible employees saving into a workplace pension rose by one percentage point to 88% between 2018 and 2019, Department for Work and Pensions (DWP) statistics show.

Consultants, trade bodies, and professional societies across the pensions industry have responded relatively positively to guidance from The Pensions Regulator (TPR) that has today signalled a clear start for defined benefit (DB) scheme consolidation...

Defined benefit (DB) scheme consolidators The Pensions Superfund and Clara Pensions are both set to begin transacting as soon as possible after new guidance for their operations was issued by The Pensions Regulator (TPR).

The Pensions Regulator (TPR) has issued guidance for pension superfunds in a move which opens the door for a further wave of defined benefit (DB) scheme consolidation.

The Financial Times has reported that Rishi Sunak is preparing to break the Conservative party’s “triple lock” state pension pledge, amid Treasury fears that the policy could become unaffordable because of the fallout from the coronavirus crisis.

While the latest guidance from The Pensions Regulator (TPR) provides more relief for providers, trustees are not yet able to cope with the demands of meeting its expectations, the industry says.

There were 4% more deaths registered in week 23 of 2020 than if death rates had been the same this time last year, down from 17% last week, according to the Continuous Mortality Investigation (CMI).

The Pensions Regulator (TPR) has updated its guidance for schemes navigating funding or governance difficulties during the Covid-19 pandemic.