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Latest DB news
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.
Endgame latest: Trio of announcements from buy-in to wind-up
The latest updates on endgame activity span from Canada Life’s £52m buy-in to the full wind-up of a flavours and fragrances company’s defined benefit pension scheme.
Bulk annuities news in association with Canada Life
XPS urges fiduciary manager reviews as more DB schemes consider run-on
Improved funding levels and changing DB endgames are altering what schemes need from their fiduciary managers, according to XPS Group.
Pension groups back PPF valuation changes but raise levy concerns
Proposed changes to PPF valuation assumptions have prompted calls for a wider rethink of s179 requirements and warnings over unintended consequences for levy calculations and Fast Track funding.
Investment latest: USS acquires rail company; Insight nets £1bn mandate
USS has agreed to take over a rail freight company, while Insight is to help facilitate surplus sharing through a £1bn mandate with an unnamed DB pension scheme.
Bulk annuities latest: M&G strikes £100m ‘BPA-plus’ deal with financial services firm
The bulk annuity deal is combined with M&G’s With-Profits Fund to give access to potential additional investment returns. Plus, Just Group insures a manufacturer’s scheme for £11m.
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
DB running costs up by a third – and size is no protection, data shows
Data from TPT Retirement Solutions shows legal, admin, governance, and data-related fees are among the drivers of year-on-year increases – and size is no protection against rising costs.
Clara-Pensions onboards £40m scheme through small transactions service
More than 400 members of the unnamed scheme will join the Clara Pension Trust, which aims to be a ‘bridge to buyout’ with an insurer.
Canada Life wraps up food company scheme through £400m buy-in
The transaction secures the benefits of more than 7,000 members of the Samworth Brothers Limited Superannuation Scheme, sponsored by the owner of the Ginsters and West Cornwall Pasty Company brands.
L&G strikes biggest bulk annuity deal of 2026 with £1.7bn buy-in
The buy-in secures the benefits of 16,400 members, and the trustee board highlighted the importance of continued strong customer service as a key factor in selecting L&G.
Trustees must be in control of surplus decisions, trade bodies argue
Organisations representing member-nominated and professional trustees have emphasised the importance of independence during surplus decisions for defined benefit pension schemes.
Schemes keeping surplus release options open as rulebook debated, Aon finds
More than three-quarters of defined benefit (DB) pension schemes’ trustee boards and sponsoring employers have yet to agree on how surplus will be shared once the new rules come into force next year.
DB surplus release rules need refinement, industry tells government
With the government’s consultation on draft rules closing next week, providers and trade bodies have been forthright in their views on the plans, with many changes urged to ensure fairness and mitigate conflicts of interest.
How is AI being used across pension schemes’ supply chains?
Pension schemes need a clearer picture of where artificial intelligence is being used across their operations and supply chains as adoption accelerates, according to technology firm Penfold.
Unions take Civil Service pension insourcing campaign to Downing Street
The Prospect and Public and Commercial Services unions are petitioning the government to name a responsible minister and bring the administration of the Civil Service Pension Scheme in-house.
SPP calls for surplus rules to support regular payments from DB schemes
The current wording of draft rules is skewed towards one-off payments and could make it difficult for schemes that want to ‘run on’ and make regular payouts, according to the SPP.
Comment & opinion
Sharing is caring: making the right call in surplus release decisions
2026-09-09T15:45:00+01:00
Own Risk Assessment: The starting point for pension board effectiveness
2026-09-01T04:00:00+01:00
What does good pension scheme performance look like?
2026-08-31T09:00:00+01:00
Surplus is not a windfall – it is a governance test
2026-08-10T09:42:00+01:00
Railpen: What does a member-first approach really mean?
2026-06-24T09:33:00+01:00