The Department for Work and Pensions (DWP) says it will press ahead with a 10% increase to the general levy from 1 April, despite a severe industry backlash to a consultation on the issue.
The House of Lords has called for pension schemes to align their portfolios with the objectives of the Paris Climate Agreement.
Textiles company AW Hainsworth has secured a buyout for its defined benefit pension scheme in a deal worth £2.3m.
This week’s top stories included Lloyds agreeing a £10bn longevity swap with Pacific Life Re for three of its pension schemes, and the Co-operative Pension Scheme completing a £1bn buy-in with Aviva.
The Co-operative Pension Scheme, known as Pace, has completed a £1bn buy-in with Aviva in the first announced bulk annuity deal of 2020.
Phoenix Group has laid down a proposal to acquire rival life insurer ReAssure Group in a £3.2bn cash and shares deal.
Legal & General (L&G) has launched an online annuity searching tool, allowing consumers to compare rates across six leading providers.
Aviva has set out its strategy to launch an investments, savings and retirement division as it seeks to simplify its overall business.
Aviva Life and Pensions UK has completed a £1.7bn bulk annuity buy-in with the Aviva Staff Pension Scheme.
The number of employers and advisers looking to change their pension provider has increased by nearly two thirds this year, according to research by Aviva.