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Latest DB news
TPR warns plumbing companies after taking action on section 75 debt
The Pensions Regulator issued warning notices and fined an accountant in its efforts to secure a section 75 debt payment from a company exiting the £1.2bn Plumbing & Mechanical Services Industry Pension Scheme.
Bulk annuity market competition could push PPF liabilities down further
The Pension Protection Fund (PPF) is consulting on changes to its liability valuation methods in light of increased competition in the bulk annuity market.
WTW opens up longevity swap market to sub-£1bn pension schemes
WTW said its new service, known as Longevity Stream, aimed to make hedging life expectancy risks “more accessible, efficient and cost-effective”.
Bulk annuities: M&G strikes latest ‘BPA Plus’ deal; Standard Life insures subsidiary’s scheme
Two innovative buy-ins were announced this week, featuring a with-profits element and residual risk cover while negotiating potential conflicts of interest.
Bulk annuities news in association with Canada Life
Bulk annuities: Sub-£25m deals continue as Royal London, Aviva and Just all active
The small end of the bulk annuities market remains vibrant, with sub-£25m deals completed by a number of insurers.
Smiths Group secures £760m bulk annuity deal with M&G
The FTSE 100-listed engineering company has now insured its entire defined benefit pension scheme through a series of transactions over the past few years.
Brightwell to administer Rolls-Royce scheme following buyout
Pension Insurance Corporation has completed a £4.3bn buyout of the Rolls-Royce Pension Fund in nine months, a transition aided by a new administration partnership with Brightwell.
DB schemes end first half with £264bn surplus on PPF measure
Despite the broadly positive position, the PPF’s data showed that the aggregate position of schemes in deficit on a PPF basis worsened over the course of June.
Features and analysis
Keep on running: How will endgame options affect the bulk annuity market?
With appetite for ‘run on’ and other alternative endgame solutions on the rise, will there be a knock-on effect on the bulk annuity market? Jon Yarker reports.
Special report: Why the big deal about small bulk annuity transactions?
Smaller pension schemes have traditionally struggled to access the insurance market, but significant changes have made bulk annuity transfers more compelling, as Bradley Gerrard reports.
In Depth: What TPR’s Annual Funding Statement tells us about endgame planning
Pensions Expert explores the latest Annual Funding Statement and gauges the industry reaction as attention turns to surplus release regulations, ahead of new rules expected next year.
A Christmas wishlist for the pensions industry
With the festive break upon us, it’s time to find out what the pensions industry really wants for Christmas this year. Pensions Expert asked representatives of 21 organisations from across the UK retirement industry to come up with one ‘Christmas wish’ – something they would like to see over the next 12 months.
Outlook 2026: The changing face of DB endgame options
Defined benefit experts give their views on the challenges and opportunities presented by the Pension Schemes Bill and other industry developments.
Keep on running: How will endgame options affect the bulk annuity market?
Special report: Why the big deal about small bulk annuity transactions?
In Depth: What TPR’s Annual Funding Statement tells us about endgame planning
A Christmas wishlist for the pensions industry
Outlook 2026: The changing face of DB endgame options
More defined benefit news
Bulk annuities: Large deals could return in H2, says Standard Life
Bulk annuity market capacity and pricing dynamics could shift in the months ahead as larger pension schemes seek to tap the insurance market, according to Standard Life.
PPF reserves hit £15bn ahead of pre-97 compensation change
The lifeboat fund for defined benefit pension schemes has begun contacting members with pre-97 benefits regarding inflation-linked uplifts that will begin in January.
Endgame delays could cost schemes millions in surplus, claims fiduciary manager
Van Lanschot Kempen argues that delaying decisions on endgame options could mean schemes miss out on potential investment returns that could in turn boost surplus release payments.
Bulk annuities: Rothesay launches small scheme service; PIC and Canada Life seal buy-ins
Rothesay is the latest company to launch a dedicated service for pension schemes below £100m, while rival insurer Pension Insurance Corporation has secured a £35m buy-in with a music education company’s scheme.
British Coal scheme appoints BlackRock for £8bn fiduciary mandate
The world’s largest asset manager has secured the fiduciary management mandate for the British Coal Staff Superannuation Scheme as it continues to mature.
Pension giants launch group to tackle dual-class vote disclosure
A new working group will develop guidance on class-by-class vote reporting after UK listing rule changes in 2024 allowed controversial unequal voting rights structures.
Run-on trend creating ‘safe harbour’ insurance opportunity for small DB schemes
Smaller defined benefit schemes may benefit from stronger insurer competition as larger schemes explore alternatives to buyout.
Health improvements could affect DB liabilities, trustees advised
Most DB trustees are yet to factor in how breakthrough health treatments could affect liabilities, despite their potential to reshape future mortality trends, according to Standard Life.
Private investor group supports DB scheme with capital injection
A defined benefit pension scheme has agreed a rare “capital-backed investment” transaction with a private investment firm to secure an injection of capital to improve its funding position.
Trustees under pressure to use surplus powers despite conflict concerns
With new surplus release flexibilities coming into force through the Pension Schemes Act, a survey of defined benefit pension scheme trustees has found a growing appetite for run-on but concerns about potential conflicts of interest.
Comment & opinion
Railpen: What does a member-first approach really mean?
2026-06-24T09:33:00+01:00
Better admin is the key to improving retirement outcomes
2026-06-17T13:30:00+01:00
From sewage to solvency: Lessons on covenant from a challenged water sector
2026-06-15T10:44:00+01:00
PPI: Beyond the Pension Schemes Act – now the real work starts
2026-05-27T09:00:00+01:00
Streamlining the risk transfer process: it’s harder than you might think
2026-05-11T10:00:00+01:00