Pension Insurance Corporation

British American Tobacco’s (BAT) overall net liability for its pensions and healthcare schemes in group subsidiaries nearly doubled in the year to 31 December 2019 to £1.03bn from £518m the year prior.

This week’s top stories included the launch of Scottish Widows’ new responsible investment team, and reports of Treasury plans to cut pension tax relief for high earners.

This week’s top stories included The Pensions Regulator’s announcement of new measures around the appointment of professional trustees, and the £3bn Merchant Navy Officers Pension Fund completing a £1.6bn buy-in with Pension Insurance Corporation.

The trustees of the £3bn Merchant Navy Officers Pension Fund (MNOPF) have secured £1.6bn of members’ pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).

Pension Insurance Corporation (PIC) insured £7.2bn of scheme liabilities over the course of 2019, recording more new business than in any year prior.

This week’s top stories include an article about women remaining at risk of running out of money in retirement, and one about Buck winning 36 additional client contracts since launching as an independent business last year.

Pension Insurance Corporation (PIC) has agreed a £750m bulk annuity transaction, converting a pensioner longevity swap held by the Scottish Hydro Electric Pension Scheme (SHEPS) into a buy-in.

Pension Insurance Corporation (PIC) has boosted its investment in social housing with a £40m further allocation to Soha Housing.

As the risk reduction market gets busier and busier, Jonathan Stapleton says preparations must become more comprehensive for schemes to gain a foothold.

Around £17.5bn of buy-ins and buyouts were transacted in the first half of the year as market records continue to tumble.