De-risking

Pirelli has completed a longevity swap transaction with Zurich for £600m of liabilities across its two main defined benefit (DB) pension schemes.

De-risking is actually "de-returning", Woodford Investment Management has said in a damning attack on low-risk investment strategies.

Defined benefit (DB) pension schemes could have access to much-needed cash flow through a short-term equivalent of a buy-in service, according to PwC.

Royal Bank of Scotland's (RBS) defined benefit (DB) pension scheme has reached 120% funding after the bank made a big cash payment to plug its deficit hole.

Total deficits of UK defined benefit (DB) schemes have reached an all-time high for the sixth month in a row, according to JLT Employee Benefits.

Any surplus funds the Pension Protection Fund (PPF) accumulates should not be returned to the levy payers who provided them, according to almost 60% of respondents.

The Halcrow Pensioners' Association (HPA) has withdrawn its Upper Tribunal challenge of the Halcrow Pension Scheme restructuring after facing the threat of spiralling legal costs.

Aegon has agreed an annuity referral partnership with Legal & General (L&G) as part of the insurer's plans to stop writing all new annuities in the fourth quarter.

Club Vita has joined forces with Legal & General (L&G) to make longevity insurance solutions more accessible for smaller defined benefit (DB) pension schemes.

Lack of consistency across defined contribution (DC) default funds may result in larger numbers of members opting out, Punter Southall Aspire has warned.