All Buyout articles – Page 11
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News
DB continues to mature as 73% cash flow negative
On the go: Almost three out of every four defined benefit schemes in the UK are now cash flow negative, according to consultancy Mercer’s 2019 asset allocation survey.
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News
PIC hails record reinsurance availability
On the go: Bulk annuity provider Pension Insurance Corporation has secured a record-breaking £7bn of reinsurance to date in 2019.
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News
ECJ ruling could force PPF to provide buyout uplift
On the go: An opinion given to the European Court of Justice by its Advocate General could mean that defined benefit lifeboats like the Pension Protection Fund have to cover the entire value of members’ benefits when their sponsor becomes insolvent.
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News
600 Group completes £201m buyout with PIC
On the go: Yorkshire-based engineering firm 600 Group has finalised the buyout of its UK pension scheme liabilities with Pension Insurance Corporation.
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OpinionMNTs need clarity on superfund regime to make transfers palatable
A lack of clarity on regulation and the need for protection against pushy employers means Association of Member Nominated Trustees members may well be reticent to sign off on superfund deals, writes the group’s co-chair David Weeks.
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OpinionFirst superfund transfers will put trustee decisions under spotlight
Proper rules and regulations to protect members of defined benefit pension schemes transferred to new ‘superfund’ consolidators are yet to be set out.
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OpinionOnly 1% reach insurance, what about everyone else?
Clara Pensions chief executive officer Adam Saron hits out at “disingenuous” arguments being made in opposition to commercial consolidation, and makes the case for a superfund regulatory environment that avoids the strictures of Solvency II.
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Clara eyes Q2 transaction after consultation delays clearance
Commercial consolidator Clara Pensions expects to complete its first transaction within the next three months, according to the company’s founder and chief executive officer Adam Saron.
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News
Trustees lukewarm on consolidator benefits
On the go: Most defined benefit trustees doubt the ability of commercial consolidators to improve their members’ security, according to a new survey that also reveals widespread ignorance of the two new players in the market.
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News
£7.1m bulk annuity boom for PIC
On the go: Pension Insurance Corporation saw a near doubling of new pension insurance business to £7.1bn of premiums (2017: £3.7bn), for clients including BHS, Siemens and Rentokil, its parent company's 2018 results published today revealed.
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PodcastsPodcast: How to approach the bulk annuity market
Podcast: 2019 is predicted to break last year’s record for bulk annuity deals. But with insurers being more selective, experts have stressed the need for defined benefit pension scheme trustees to make sure they are well prepared before approaching the market. In this episode, Marian Elliott, head of integrated actuarial at consultancy Redington, discusses the main drivers behind increased derisking activity in recent years, and explains how pension funds should prepare for transactions.
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News
Insurers brace themselves for DB superfund disruption
Insurers are bracing themselves for disruption by superfunds, but their desire and capability to establish their own defined benefit consolidation vehicles remains unclear.
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FeaturesRoundtable: How to get the best bulk annuity pricing
Buyout appears to be within reach for more defined benefit schemes than ever before. Experts at a recent Pensions Expert roundtable sought to quell fears that schemes must ‘buy now while stocks last’, and set out a number of considerations for trustees and employers moving towards bulk annuity purchase.
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OpinionThe unseen funding target
Most defined benefit schemes are headed for buyout or self-sufficiency, but few acknowledge this aim in any formal way. Regulators look set to change this soon, writes Society of Pension Professionals president Paul McGlone.
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News
Half of FTSE 100 liabilities funded to buyout levels by 2029
Full buyout was once a distant dream for many sponsors of UK defined benefit schemes.
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News
UK DB deficit shows modest improvement over 2018
On the go: The aggregate accounting deficit of all UK private sector defined benefit pension schemes has shown a modest improvement over the year, according to JLT Employee Benefits, falling to £107bn at December 31 2018 from £119bn a year earlier.
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News
Reuters Pension Fund completes £625m pensioner buy-in
The trustee of the Reuters Pension Fund and Thomson Reuters have completed a £625m full pensioner buy-in for the scheme, in the biggest annuity transaction yet for insurer Canada Life.
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News
£300m to be paid out by DB funds in transfers, buyouts and buy-ins
On the go: For the first time ever, nearly one third of a trillion pounds will be paid by UK private sector defined benefit pension schemes over a three-year period, from 2019–2021 according to Mercer.
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OpinionTop tips for a successful approach to the bulk annuity market
From the blog: 2018 is set to be a record-breaking year in the bulk annuity risk transfer market.
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News
Government fires ‘starting gun’ on superfund deals
A government consultation published last week will allow the UK’s commercial defined benefit consolidators to press ahead with their first deals, it has been claimed, although some experts say questions remain over how the businesses can be prudently regulated.