All Pension Insurance Corporation articles – Page 3
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NewsUK bulk annuity deals drop at the end of 2021
Data crunch: The volume of bulk annuity transactions edged downwards towards the end of last year, according to new research, although buy-ins and buyout deals rose between Q3 and Q4.
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NewsHalf of UK’s DB liabilities to be insured within a decade
On the go: Some £1tn of the UK’s defined benefit pension liabilities will be insured by the end of 2031, according to new research.
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NewsUSS strengthens net zero goal, PIC and Railpen invest in social housing
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, as the Universities Superannuation Scheme increases the scale of its net zero ambitions, the Pension Insurance Corporation backs Northern Irish social housing and the Railways Pension Fund agrees to fund affordable housing in east London.
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NewsLPFA divests from extractive fossil fuels, PIC invests in urban project
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, as a local authority pension fund divests from extractive fossil fuels and the Pension Insurance Corporation invests in a Milton Keynes build-to-rent project.
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NewsLGPS Central commits to net zero, PIC invests in urban regeneration
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including LGPS Central committing to net zero, and Pension Insurance Corporation investing in an urban regeneration project.
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NewsChurch of England puts pressure on miners, PIC invests in student halls
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including the Church of England Pensions Board pushing miners on standards, the Pension Insurance Corporation’s investment in low-carbon student accommodation, and a pledge by the Net-Zero Asset Owner Alliance to halve portfolio emissions by 2030.
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NewsGallaher Pension Scheme agrees £1.7bn buy-in, IMI derisks further
Risk watch: A roundup up of the latest derisking transactions, including the Gallaher Pension Scheme’s deal with Standard Life, and the IMI 2014 Deferred Fund buy-in with Pension Insurance Corporation.
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NewsSlash EU red tape and use pension money to level up, Aviva boss says
On the go: The government should use Brexit to loosen insurance regulation in order to “put our country’s pension funds to national use”, Aviva chief executive Amanda Blanc has said.
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NewsJust two bulk annuity insurers are signed up to UK Stewardship Code
Only Aviva and Scottish Widows have signed up to the UK Stewardship Code out of the eight bulk annuity insurers, new LCP research has highlighted.
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News2022 set to be a bumper year for bulk annuities
On the go: 2022 is set to be a busy year when it comes to derisking and could break the record for the largest transaction, according to a report from LCP.
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NewsFCA to monitor transfers after Old British Steel scheme exits PPF
On the go: The Financial Conduct Authority will be monitoring pension transfer requests from the Old British Steel Pension Scheme, as the scheme has exited its assessment period at the Pension Protection Fund.
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NewsMetal Box completes £2.2bn full buy-in with PIC
On the go: The Metal Box Pension Scheme has completed a full £2.2bn buy-in with Pension Insurance Corporation, with plans to convert this to a buyout in November 2021.
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NewsBuy-in and buyout volumes to reach more than £8bn
On the go: Total pension scheme buy-in and buyout volumes over the first half of 2021 are expected to reach over £8bn, according to new analysis by Hymans Robertson.
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NewsBritish American Tobacco secures second buy-in with PIC
On the go: The £4.2bn British American Tobacco UK Pension Fund, has signed an additional buy-in deal with Pension Insurance Corporation, insuring approximately £400m of pensioner liabilities.
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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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Plumbing business freed of DB scheme liability
On the go: UK-based heating and plumbing distribution business Wolseley is set to be freed of its defined benefit scheme liability following its acquisition by a private investment company.
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NewsEngineering group speeds up derisking as market nears £30bn
At the tail end of what has been the second biggest year ever for derisking transactions, engineering services group Renew Holdings completed a £110m buy-in with Rothesay Life for its Lovell Pension Scheme.
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Old British Steel scheme agrees £2bn buy-in
On the go: Thousands of steelworkers could receive a boost to their pensions after a £2bn buy-in was agreed — a first step towards a full buyout, taking the scheme out of the Pension Protection Fund.
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Co-op scheme completes £350m buy-in with Aviva
On the go: The Co-operative Pension Scheme has completed a £350m buy-in with Aviva, taking its total transactions this year beyond £2bn, as defined benefit schemes look to capitalise on cheaper deals amid the coronavirus pandemic.
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Co-op buys in £400m on back of widened spreads
On the go: The Co-operative Pension Scheme has agreed a £400m buy-in with the Pension insurance Corporation, covering the pensions of around 2,000 members.