EXCLUSIVE: HSBC's in-scheme annuitisation 'drove up DB liabilities'

clock

Allowing defined contribution (DC) members to buy pensions in defined benefit (DB) sections can significantly drive up liabilities, HSBC Bank Pension Trust chief executive Lesley Alexander warns.

Alexander told delegates at the Eversheds Annual Pensions Conference to consider HSBC's experiences when looking to protect funds from DB pressures. In 1996, the bank became one of the first org...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Tender Watch: PMI appoints data insight partner

Tender Watch: PMI appoints data insight partner

Mortality Monitor webinars will help with member information, modelling, mortality rates and de-risking

Professional Pensions
clock 11 November 2024 • 1 min read
Mixed industry views on DB run-on, SPP finds

Mixed industry views on DB run-on, SPP finds

SPP and APL survey of pension professionals finds minority think run-on is viable long-term strategy

Jasmine Urquhart
clock 23 October 2024 • 1 min read
One third of DB schemes report rise in running costs

One third of DB schemes report rise in running costs

TPT research finds on average DB scheme running costs rose by 37% in the last year

Martin Richmond
clock 24 September 2024 • 2 min read
Trustpilot