Latest articles from Stephanie Hawthorne

FTSE350 pension deficit rises to £45bn

On the go: The total deficit of FTSE350 companies’ defined benefit pension schemes increased to £45bn from £41bn at the end of February. The move was caused by an increase in liabilities to £811bn from £806bn, partially offset by asset values increasing to £766bn from £765bn, according to Mercer figures released this week.

Bulk annuity volumes beat expectations with £24bn in 2018

On the go: Legal & General took the largest share of the bulk annuity market in 2018, accounting for 35 per cent of the sector, in a year when buy-ins and buyouts totalled £24bn.

Employers keep workers in the dark on pension freedoms

On the go: Some employers are still sticking their heads in the sand when it comes to pensions reforms. Only 59 per cent have alerted their employees to pension freedoms, according to the Employer Engagement Survey 2018 published by the Department for Work and Pensions in March 2019.

New lower life expectancy figures trim £20bn off DB liabilities

On the go: Life expectancies at age 65 are around five months lower for both males and females than they were a year ago, at 19.8 years and 22.4 years according to the Continuous Mortality Investigation. The figures come with caveats but are expected to cut £20bn from FTSE 350 defined benefit liabilities.

TPR could face last-minute ‘tsunami’ of master trust applications

On the go: With just over three weeks left until the end of the authorisation window for master trusts, 13 applications have been received by the Pensions Regulator from the 90 master trusts in the market, meaning it could face a last-minute tsunami of applications, according to consultancy Hymans Robertson.

£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.

Aon ends takeover talks with Willis Towers Watson

On the go: Insurance brokerage and consulting giant Aon has pulled out of takeover talks for rival Willis Towers Watson.

Eurozone equities at 20 per cent discount v US stock market

On the go: The eurozone stock markets could be set to outperform the US, UK and Japan, according to NN Investment Partners.

Schemes should discuss options ahead of Brexit-day clash

On the go: One in seven UK pension schemes faces a Brexit conundrum with their valuation year-end dates falling due on March 31, the Sunday after the UK is due to leave the EU on March 29, according to Aon.

Record £10bn annuity sales boosts L&G profits

On the go: Legal & General’s 2018 results released on Wednesday showed a record £10bn annuity sales, as demand grew for both institutional risk transfer deals and individual annuities.