More defined benefit news – Page 4
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NewsBulk annuities latest: L&G insures Deutsche Bank scheme for £1.1bn
Legal & General (L&G) has completed a £1.1bn buy-in with Deutsche Bank’s UK defined benefit scheme, securing the pensions of around 4,000 members.
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NewsAviva converts longevity swap as part of £1.3bn RAC buy-in
Aviva has secured a £1.3bn buy-in for the RAC 2003 Pension Scheme, insuring the benefits of approximately 19,000 members.
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NewsPLSA Conference: DB is ‘part of the future of pensions’
Defined benefit (DB) should be considered part of the future, not just the past of pensions, according to panellists at the Pensions and Lifetime Savings Association’s Annual Conference.
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NewsMichelin insures DB scheme for £1.5bn
Tyre manufacturer Michelin has insured its defined benefit (DB) scheme for £1.5bn with Aviva, marking the biggest bulk annuity deal of 2024 so far.
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NewsBulk annuity update: Royal London completes first external deals
One of the bulk annuity sector’s newest entrants has completed its first two transactions with external pension schemes, worth a combined £130m.
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NewsSchemes relying on dashboard rollout face data ‘nightmare’
Pension schemes need to get their data in order as those assuming the pension dashboard rollout will solve this for them face a “nightmare” ahead.
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NewsAssessing pension insurers’ sustainability performance
Most bulk annuity providers are making good progress to decarbonise their investment portfolios and are ahead of internal targets, according to new research.
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NewsProfessional and sole trustees dominate scheme management, data shows
More than half of private sector defined benefit (DB) schemes now have a professional trustee, according to new data – with almost a quarter of schemes run by a sole trustee.
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NewsTPR clarifies statement of strategy approach
The Pensions Regulator (TPR) has streamlined its requirements for statements of strategy in response to industry feedback, as its Defined Benefit (DB) Funding Code comes into effect.
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NewsMerseyside strikes £200m bulk annuity deal with Aviva
The Merseyside Pension Fund has secured the benefits of around 2,500 former Arriva employees in a buy-in transaction with Aviva.
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NewsIndustry calls for change to levy rules as PPF seeks to raise £100m
The government should rewrite rules around the Pension Protection Fund’s (PPF) levy to reduce unnecessary costs for defined benefit (DB) schemes, according to industry commentators.
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NewsPIC insures Coats scheme in £1.3bn buy-in
Pension Insurance Corporation (PIC) has insured the pensions of more than 18,000 members of the Coats UK Pension Scheme, in the biggest buy-in deal announced so far this year.
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NewsLCP takes over executive functions at National Grid scheme
The executive and governance team at the £11.8bn National Grid UK Pension Scheme has transferred to consultancy group LCP.
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NewsTrustees increase focus on endgame planning
Almost nine in 10 trustees of defined benefit (DB) pension schemes are expected to decide their endgame strategy within the next five years, new research suggests.
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NewsUK facing ‘cliff edge’ on pension provision
The UK is facing a “cliff edge of challenges” for its £2trn pensions system including low engagement, poor savings levels and low productivity, according to Mercer.
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NewsBulk annuities latest: Scottish Milk scheme insures with Just for £42m
The latest defined benefit insurance transactions also include a £34m deal for the Macmillan charity’s scheme.
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NewsXPS launches illiquid asset trading service
XPS Group has become the latest to launch a specialist trading platform for private markets assets, as defined benefit (DB) schemes seek to prepare for insurance transactions.
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NewsBBC reschedules valuation as scheme hits surplus
The trustees of the BBC’s £13.8bn pension scheme have brought forward its triennial valuation to take into account improvements in its funding position.
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NewsUSS, Railpen announce major UK investments
The Universities Superannuation Scheme (USS) and Railpen have separately announced major new investments in UK private market assets.
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NewsHow to get pension schemes investing in productive assets
The Pensions and Lifetime Savings Association (PLSA) has set out a series of actions for government to make key areas of productive finance more investable for pension schemes.