XPS reports narrow surplus increase while Mercer finds slight decrease in funding levels
XPS survey found 62% of respondents expect to be fully funded within three years
Liabilities of 3,400 members are insured through deal with engineering firm’s scheme
Fixed fee Xpedite service aims to improve buy-in process for smaller schemes
Jonathan Stapleton speaks to Paul Cuff about XPS’ latest results and the firm’s plans for the future
The Marie Curie defined benefit (DB) scheme has entered into a circa £30m full scheme buy-in agreement with Legal & General (L&G) Assurance Society.
Around £50bn of risk will be transferred to the bulk annuity and longevity swap market by the end of the year despite a slow start to the market, Aon says.
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).
The Co-operative Pension Scheme (Pace) has agreed a £1bn buy-in with Pension Insurance Corporation (PIC), insuring benefits for around 7,000 members.
Small schemes are facing “obvious challenges” in grabbing insurer attention as “jumbo” deals are beginning to typify the bulk annuity market, Aon says.