The Co-operative Pension Scheme (Pace) has entered into its fourth bulk annuity transaction of 2020, agreeing a £350m buy-in with Aviva.
The Leonardo Electronic Pension Scheme has concluded a £160m pensioner buy-in with Just Group in the scheme’s first risk transfer exercise.
Around £25bn of buy-ins and buyouts are set to be transacted this year despite the Covid-19 challenges, according to Lane Clark & Peacock (LCP).
The Co-operative Pension Scheme (Pace) has agreed its third buy-in this year, insuring £400m of liabilities in the Co-operative Bank section of the scheme with Pension Insurance Corporation (PIC).
Castings has agreed a £72m buy-in contract for its two defined benefit pension schemes with Aviva.
Multinational communication services giant WPP has completed a £250m buy-in for two of its pension schemes with Pension Insurance Corporation (PIC) as the insurer celebrated a “healthy pipeline” of deals amid the Covid-19 outbreak.
The fall in pricing of credit assets due to Covid-19 has made bulk annuities more affordable for schemes with significant gilt holdings, according to XPS Pensions.
While market conditions may have put a dent in your de-risking plans, there is still plenty of preparation you can do and opportunities to take advantage of, says Michael Abramson.
Another £1.2bn of defined benefit (DB) scheme liabilities were insured by Just Group last year, according to its preliminary full-year results.
Nimble footwork enables small schemes to compete with the big boys in the buyout market, says Stephanie Hawthorne.