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Latest DB news
Brightwell to administer British Coal scheme from next year
Brightwell is to take over as the administration provider for the British Coal Staff Superannuation Scheme from October next year, it announced this week.
Bulk annuities latest: M&G insures chemical company scheme in ‘BPA Plus’ deal
Plus: Royal London, Legal & General and Utmost announce buy-ins, while Utmost is set to be rebranded as JAB Pensions following a takeover.
Employers seeking to offload schemes to free up board time, research shows
Two-thirds of UK DB pension schemes are now in surplus as of their most recent triennial valuation, prompting employers to reassess long-term endgame options.
Government to take over Northern Rock and Bradford & Bingley DB schemes
HM Treasury initially planned to take on the two defined benefit pension schemes in 2025, but this is now expected to take place by early 2028.
Bulk annuities news
Budget 2026: Mineworkers scheme trustees ‘disappointed’ by surplus decision
The trustees of the £10.4bn Mineworkers’ Pension Scheme have criticised a government decision not to bring the fund’s surplus arrangements into line with the British Coal Staff Superannuation Scheme, despite months of negotiations.
PPF confirms no conventional levy for third straight year
The lifeboat fund has confirmed a third year of no conventional levy, while also announcing adjustments to valuation methods and a pause on the alternative levy that will apply to superfunds.
Finance chiefs divided over how to use DB pension scheme surpluses
Key corporate decision-makers are split over how to prioritise the use of defined benefit pension scheme surpluses, according to new research by Independent Governance Group.
Bulk annuities latest: Interface, Biffa and FirstGroup secure buy-ins
A trio of bulk annuity transactions have been publicised in recent days, securing the benefits of 4,700 members in deals totalling £450m.
Features and analysis
Sizing up the challenge: Managing the transition from buy-in to buyout
Insurers and consultants are confident about their ability to handle the high volume of bulk annuity deals, but juggling demand for resources as schemes transition from buy-in to buyout could be tricky, as Bradley Gerrard reports.
Inside the deal: How collaboration helped Mercer’s master trust seal a triple buy-in
As the derisking options for small defined benefit pension schemes increase, experts from Stephenson Harwood and Mercer share insights on how pooled arrangements have been able to secure insurance deals for some of the smallest clients.
Keep on running: How will endgame options affect the bulk annuity market?
With appetite for ‘run on’ and other alternative endgame solutions on the rise, will there be a knock-on effect on the bulk annuity market? Jon Yarker reports.
Special report: Why the big deal about small bulk annuity transactions?
Smaller pension schemes have traditionally struggled to access the insurance market, but significant changes have made bulk annuity transfers more compelling, as Bradley Gerrard reports.
In Depth: What TPR’s Annual Funding Statement tells us about endgame planning
Pensions Expert explores the latest Annual Funding Statement and gauges the industry reaction as attention turns to surplus release regulations, ahead of new rules expected next year.
Sizing up the challenge: Managing the transition from buy-in to buyout
Inside the deal: How collaboration helped Mercer’s master trust seal a triple buy-in
Keep on running: How will endgame options affect the bulk annuity market?
Special report: Why the big deal about small bulk annuity transactions?
In Depth: What TPR’s Annual Funding Statement tells us about endgame planning
More defined benefit news
Regulator gives green light to TPT to launch superfund
TPT has secured investment capital to back between £1bn and £1.5bn worth of transactions, and said it was already in discussions with “a growing number of schemes”.
Bulk annuities latest: L&G seals £1.7bn deal with UBS; Royal London insures steel scheme
Legal & General has completed the biggest defined benefit pension scheme buy-in so far this year, insuring 7,000 members of a section of the UBS UK Group Pension Plan.
Superfund sector set to ‘take off’ as Clara onboards six schemes in unique deal
Following four deals announced this year, Clara-Pensions’ assets under management are now in the region of £2.5bn as consultants predict “exponential growth” for the superfund sector.
DB schemes navigate volatility to finish Q3 with stronger funding position
The PPF 7800 index reported that the total surplus across the 4,838 funds it covers reached £280.7bn at the end of September, equivalent to a funding ratio of 135%.
The next pensions scandal?
Thousands of women lose out on pension benefits when they divorce, with Excalibur Actuaries warning that unfair sharing arrangements have “all the hallmarks of another pensions scandal in the making”.
Why administrators are causing sleepless nights for DB trustees
Third-party vulnerability is among the biggest cyber risks facing DB pension schemes, according to a professional trustee survey
Arco Group Pension Scheme agrees to transfer to Clara superfund during M&A
Clara and Arco announce landmark agreement
Insurers urged to give more information on post-deal customer service
LCP and Law Debenture are calling for insurers to disclose comparable data around customer service and administration to help trustees make decisions on bulk annuity transactions.
Attractive pricing expected to keep bulk annuity market bouyant through 2026
Attractive insurance pricing should lead to a busy end to 2026 for the bulk annuity market, despite muted volumes in the first half, according to new analyses.
TPR data shows continued funding improvements as new regime looms
Data from the Pensions Regulator shows continued improvement in funding levels for defined benefit pension schemes, as trustees review endgame options amid an expanded menu of options.
Comment & opinion
Why the AMNT is expanding its membership at a crucial time for trustee boards
2026-11-09T14:21:00+00:00
SPP: Focusing on the member behind the number
2026-11-02T17:14:00+00:00
Railpen: The role of DB in boosting pension adequacy
2026-10-19T15:37:00+01:00
ABI: Surplus extraction - lessons from insurers
2026-10-06T00:01:00+01:00
SPP: Is your pension scheme ready for run-on?
2026-10-05T09:12:00+01:00