BPA

Standard Life finds barriers include market volatility and investment strategy

BPA agreement covers 1,740 members from both sections of the scheme

Insurer expects a total market of £40bn for 2023 and targets investment of £300m a year

Improved funding levels have prompted trustees to reduce illiquid asset allocations

Majority of DB trustees will approach insurer about de-risking in the near future

Hymans Robertson predicts value of bulk annuities market to reach £25bn in H1 2023

The bulk annuity deal insures the DB liabilities for around 3,700 members

Market outlook remains ‘positive’ despite recent volatility

Consultants say bulk annuity pricing could go either way depending on final reforms