All Defined benefit articles – Page 7
-
OpinionWhose money is it anyway? Avoiding a ‘smash and grab’ on DB schemes
Governments have always tended to put DB pension schemes in their sights when looking for more money, writes Janice Turner, co-chair of the Association of Member Nominated Trustees.
-
NewsGovernment to announce DB surplus extraction rules in the spring
The government has confirmed plans to relax rules around defined benefit pension scheme surpluses, paving the way for excess funds to be paid out to members or employers.
-
NewsL&G insures Sanofi pension fund for £1.4bn
The deal insures the benefits of 4,900 retirees and 5,600 deferred members, and follows a £760m buy-in completed in 2021.
-
NewsChancellor expected to loosen rules on DB surpluses [updated]
Long-awaited changes to defined benefit scheme surplus rules will be announced this week.
-
News2024 was record year for bulk annuities, data shows
Preliminary data on bulk annuity transactions shows that approximately £52bn worth of deals were completed last year – a new record.
-
NewsRoyal London insures Rockwool scheme through £53m buy-in
Royal London has insured the defined benefit pension scheme for insulation manufacturer Rockwool through a £53m buy-in.
-
NewsPension Insurance Corporation secures lighting firm’s scheme for £24m
Pension Insurance Corporation (PIC) has concluded a £24m full-scheme buy-in with the Holophane Retirement Benefits Scheme, sponsored by lighting firm Holophane Europe.
-
NewsDB pension schemes finish 2024 with £226bn surplus
Defined benefit (DB) pension schemes’ aggregate surplus position declined in December as volatility hit equity and bond markets.
-
NewsPRA warns of ‘systemic risk’ building up in bulk annuity market
The regulator for insurers and banks has warned of “systemic risk” within the bulk annuity market as insurers compete for DB pension schemes’ business.
-
NewsUtmost hires former Rothesay CFO to lead bulk annuity market push
Utmost Life and Pensions, one of the newest entrants to the UK bulk annuity market, has appointed former Rothesay Life chief financial officer Andrew Stoker as chief executive.
-
NewsCompass takes a bite out of DB risk with £1.5bn buy-in
Food services company Compass Group has secured the “majority” of its DB scheme’s membership through a £1.5bn bulk annuity deal with Standard Life.
-
NewsFootwear company completes £540m buy-in with PIC
Pension Insurance Corporation (PIC) has insured two sections of the C&J Clark Pension Fund, sponsored by footwear retailer Clarks.
-
NewsLCP forecasts more new entrants to bulk annuity market in 2025
This year will bring a new defined benefit (DB) consolidator and another entrant to the bulk annuity market, according to consultancy group LCP.
-
NewsBulk annuities latest: PIC insures first scheme through Mosaic framework
Pension Insurance Corporation (PIC) has completed its first buy-in transaction using its new streamlined system for small schemes.
-
NewsGovernment to review British Coal surplus arrangements
The trustees of the £8.6bn British Coal Staff Superannuation Scheme (BCSSS) are in discussions with government officials regarding the use of a £2.3bn reserve fund.
-
NewsAirways Pension Scheme insures £340m of longevity risk
The £5.2bn Airways Pension Scheme has completed a longevity reinsurance transaction with insurers MetLife and Zurich.
-
NewsOutlook 2025: The pensions industry’s wishlist for the new year
Pensions Expert spoke to six major industry groups to find out what they want to see happen in 2025, from the Pensions Review and the Pension Schemes Bill to trustee powers and improvements to member outcomes.
-
NewsRoyal London and Just Group announce buy-in deals
Royal London has announced its fifth transaction since entering the bulk annuity market earlier this year.
-
NewsWates Pension Fund transfers to consolidator Clara
Defined benefit (DB) pension scheme consolidator Clara-Pensions has completed its third transaction, taking on the £210m Wates Pension Fund.
-
NewsPensions industry supports delay to PPF decision on 2025-26 levy
The Pension Protection Fund (PPF) has delayed the final decision on its 2025-26 industry levy until the end of January as it lobbies for the ability to reduce payments to zero.