FTSE 100 risk settlement transactions have reached £70bn as a third of these firms remove longevity risk, according to Aon.
This week’s top stories include Thomas Cook’s four pension schemes being poised to enter a Pension Protection Fund assessment period.
The Allied Domecq Pension Fund has insured £3.8bn of members’ benefits with Rothesay Life, in the market’s largest deal to cover both pensioner and deferred members.
Rothesay Life has agreed the UK’s largest ever bulk annuity deal to date – a £4.7bn buyout of the GEC 1972 Plan, making 2019 officially a record-breaking year.
Pension schemes could be accidentally pushing themselves further from their endgame by agreeing “fashionable” buy-ins with insurers.
Defined benefit (DB) schemes should act now to insure members’ benefits before an “anomaly” in the markets is corrected, Prudential Retirement has said.
This week’s top stories included The Pensions Regulator launching a prosecution against the director of a professional trustee firm, and the regulator approving five master trusts.
Legal & General (L&G) has entered into an agreement with US law firm Locke Lord for a £35m buyout of UK-based Edward Wildman Palmer pension scheme.
Rothesay Life has completed £3.7bn of bulk annuity transactions so far in the second half of this year, according to its latest trading update.
While buy-ins can provide an immediate reduction to liability values, schemes run the risk of retaining key risks and storing up problems, says Jos Vermeulen