More defined benefit news – Page 2
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NewsFerry firm secures £35m bulk annuity deal with Just Group
Cross-channel transport company Brittany Ferries has secured its defined benefit pension scheme through a £35m buy-in, insuring 444 members’ benefits.
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NewsHealthcare equipment firm seals £213m buy-in with PIC
Siemens Healthineers secures a full-scheme buy-in covering more than 1,600 members’ benefits and protecting bespoke retirement options.
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NewsDB schemes navigate volatile 2025 to finish with stronger funding position
Defined benefit pension schemes finished 2025 with an aggregate surplus of £259.7bn, according to the latest data from the Pension Protection Fund’s 7800 index.
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NewsEngineering firm secures buy-in with PIC worth £155m
Engineering company NG Bailey has secured a £155m buy-in for its defined benefit pension scheme with Pension Insurance Corporation.
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NewsLCP forecasts record buy-in volume of £55bn in 2026
Buy-in volumes could reach a record £55bn in 2026, according to a new forecast from LCP, as strong insurer pipelines and competitive pricing continue to support high levels of pension risk transfer activity.
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NewsTPT raises ‘serious concerns’ over PPF levy on superfunds
The provider, which announced plans to launch a DB superfund last year, argued that carve-outs for “alternative covenant schemes” could hamper innovation and penalise employers and members.
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NewsBulk annuities roundup: Peel Ports, Skanska complete major derisking deals
Pensions Expert rounds up a number of bulk annuity deals from the past fortnight, ranging from £4m to £525m in size, with around 9,000 members’ benefits secured in total.
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NewsSurplus sharing dominating scheme decision-making, study shows
UK pension schemes are at a crossroads as surplus distribution challenges dominate decision-making, according to new research from PwC.
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NewsAviva to support surplus sharing into DC master trust
Aviva’s £15bn defined contribution master trust has launched a service to make it easier for defined benefit trustees to use surplus assets to top up DC benefits.
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NewsTrusteeship standards face overhaul as DWP launches consultation
The Department for Work and Pensions has launched a consultation on improving standards of trusteeship, governance and administration across trust-based pension schemes, as consolidation accelerates and trustee responsibilities continue to expand.
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NewsLloyds DB schemes secure further longevity reinsurance deals
Three transactions cover £4.8bn in liabilities across three schemes and come on top of two deals announced in March worth £5.1bn.
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NewsStagecoach transfers DB scheme to Aberdeen in innovative run-on deal
Stagecoach has agreed an innovative deal with financial services giant Aberdeen to transfer the bus company’s £1.2bn defined benefit pension scheme into a ‘run on’ arrangement.
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NewsHow the PPF will pay inflation-linked compensation to FAS members
The PPF expects to begin paying inflation-linked compensation to members with pre-97 benefits from January 2027, subject to the progress of the Pension Schemes Bill.
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NewsBudget round-up: Leaks, sacrifices, and unexpected changes
Pensions Expert gathers all the essential pensions reading from chancellor Rachel Reeves’ 2025 Budget speech in one place, from salary sacrifice to surplus release, and pre-1997 indexation to the financial market reaction.
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NewsGovernment to introduce pre-97 indexation for PPF and FAS members
The chancellor has pledged to allow the Pension Protection Fund to share its reserves with members whose benefits do not automatically increase in line with inflation.
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NewsBritish Coal pensioners to share in £2.3bn investment reserve
Chancellor Rachel Reeves confirmed that the investment reserve would be transferred to British Coal Staff Superannuation Scheme members, following a similar decision last year affecting the Mineworkers’ Pension Scheme.
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NewsBudget to reduce tax bill for DB surplus sharing from 2027
The change means that schemes can share surpluses with pensioner members without recipients incurring large tax bills and without permanently increasing pension payments.
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NewsBBC strikes £6bn longevity swap deal to extend scheme insurance
The broadcaster’s defined benefit pension scheme has secured a longevity swap transaction with MetLife and Zurich, five years after its first such deal was completed.
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NewsBulk annuities update: Just announces trio of sub-£50m buy-ins
Insurance company Just Group has announced three buy-ins this week, totalling approximately £80m in premiums paid.
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NewsSPP warns against blanket law change on pre-1997 indexation
The Society of Pension Professionals has urged the government not to impose a universal requirement for DB schemes to grant inflation increases on pre-1997 pensions.