All liabilities articles – Page 6
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News£6bn swap shows insurers’ appetite for longevity risk
On the go: A £6bn longevity swap by an unnamed UK pension scheme and the Prudential Insurance Company of America suggests that insurers’ appetite for longevity risk has not diminished, despite the uncertainty around the long-term impacts of the Covid-19 pandemic.
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NewsAviation scheme spared material detriment in sponsor’s acquisition
On the go: The trustee of the Signature Aviation Income and Protection Fund has been left satisfied after the pension scheme escaped any material detriment arising from its sponsor acquisition by Brown Bidco.
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NewsPandemic could have modest impact on mortality rates
On the go: If Covid-19 is confined to the two waves already registered, and the vaccination rollout programme is successful, the pandemic’s effect on mortality rates is likely to be marginal, new research from LCP has revealed.
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Experts dismiss national pension fund proposal
Analysis: Experts have largely poured scorn on a highly controversial proposal to create a gigantic national sovereign fund by merging public schemes and then mopping up private plans as well.
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NewsUSS rejects attempt to reopen controversial valuation
The Universities Superannuation Scheme has rejected a request by Universities UK, the advocacy group representing 340 higher education employers, to revisit the controversial assumptions behind its most recent valuation.
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Merchant Navy plans to insure all liabilities by 2025
On the go: The £4.1bn Merchant Navy Officers Pension Fund plans to insure all of its remaining liabilities by 2025, as it is set to undergo its next triennial actuarial valuation at the end of the quarter.
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Pension schemes’ liabilities overstated up to £60bn
On the go: Defined benefit schemes’ liabilities may be overstated from 1.5 per cent up to 3.5 per cent following the Covid-19 pandemic, according to pensions consultancy XPS.
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NewsPensions dashboards’ 2023 target ‘under threat’
The target date of 2023 for the introduction of the pensions dashboards is under threat from a lack of clarity in several key areas, the Society of Pension Professionals has warned.
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Pandemic causes £41bn DB deficit bump
On the go: The coronavirus pandemic and attendant national lockdown saw a marked deterioration in defined benefit scheme funding positions, with the overall deficit up £41bn as of March 2020 compared with the same month in the previous year.
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PPF 7800: Schemes in surplus for first time in two years
On the go: The position of the UK’s 5,318 defined benefit pension schemes moved into surplus for the first time in two years, with improvements in funding positions driven by increased bond yields, according to the PPF 7800 index for February.
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Risk settlement market breaks new record in 2020
On the go: New figures from Aon showed that 2020 was a record-breaking year for the risk settlement market, with 2021 likely to provide stiff competition.
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West Ferry Printers scheme completes £120m buy-in
On the go: The West Ferry Printers Pension Scheme has completed a £120m buy-in transaction with Rothesay Life, securing the benefits for the remaining 263 members of the scheme.
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PodcastsPodcast: Timms calls for pension transfer rules change
Podcast: The current law governing transfers is not fit for purpose and there are too many bodies involved in handling pension scams, according to Work and Pensions Committee chair Stephen Timms.
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NewsOpinion split on Pension Schemes Act implications
A survey carried out as part of a webinar by law firm Sackers has laid bare a deep divide in the industry over powers afforded by the Pension Schemes Act.
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Arcadia schemes could have enough assets to survive outside PPF
On the go: Arcadia pension scheme members could receive a greater portion of their savings after a string of property and infrastructure sales raised enough capital to bring them out of the Pension Protection Fund.
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DB schemes to see £1tn of liabilities insured by 2031
On the go: Defined benefit schemes are expected to see £1tn of risk insured by buy-ins, buyouts and longevity swaps by the end of 2031, according to new analysis.
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DB deficits fall £21.4bn in January
On the go: The aggregate deficit of the 5,318 defined benefit schemes in the Pension Protection Fund 7800 Index fell by £21.4bn in January.
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RPI reform boosts inflation hedging
On the go: The announced reform of the retail price index, to match the consumer price index including housing costs, saw inflation hedging rise by six per cent quarter on quarter at the end of September 2020.
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L&G scheme secures £400m derisking transaction
On the go: The Legal & General Group UK Senior Pension Scheme completed an assured payment policy transaction worth around £400m with the Legal & General Assurance Society in December 2020.
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How schemes can navigate the post-Covid recovery
Defined benefit schemes should use the post-Covid recovery to conduct a thorough postmortem of the effects of 2020’s events on their portfolios and strategies, according to Barnett Waddingham.