Bulk annuities

Following Rolls-Royce's record buyout earlier this month, James Phillips speaks to some of the key players about the process.

This week's top stories included Legal & General completing a record-breaking buyout with the Rolls-Royce UK Pension Fund, and the government setting out plans for flexible NHS pensions.

The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.

Pension Insurance Corporation's (PIC) bulk annuity business transacted £7.1bn of buy-ins and buyouts over the course of 2018, its annual results reveal.

Phoenix Group transacted £800m of bulk annuities in 2018, its first year in the market since completing a deal with its own scheme two years ago.

Legal & General (L&G) has published its 2018 results, revealing a 10% rise in operating profits driven by strong growth in both its retirement and defined contribution (DC) businesses.

The Pearson Pension Plan has entered into a £500m pensioner buy-in with Legal & General (L&G) in the insurer's first deal of 2019.

Just Group has completed a £158m pensioner buy-in with the Wyeth Group Pension and Life Assurance Scheme, bringing its total bulk annuity sales for 2018 to £1.3bn.

Buy-in and buyout pricing for British pension schemes could hike if the US or Canadian bulk annuity markets boom, Legal and General (L&G) has predicted.

This week's top stories included exclusive coverage of The Pensions Regulator's plans to require schemes to use professional trustees.