All Phoenix Group articles
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NewsFour fifths of defined benefit scheme trustees expect BPA deal within five years
Four fifths of defined benefit pension scheme trustees expect to approach an insurer about de-risking within five years with 86 per cent of trustees anticipate their scheme approaching an insurer for a bulk purchase annuity (BPA) transaction within the next five years.
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NewsConsumer duty: Stricter regulation needed for members caught up in record insurance buyout activity
The introduction of the Financial Conduct Authority (FCA)’s new consumer duty will be particularly welcome to trustees of defined benefit (DB) pension schemes who are entering into bulk annuity insurance transactions.
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NewsCould pensions be the best recruitment tool?
The amount a company pays into their employees' pensions should not be seen 'as an afterthought', and could be a key selling point when it comes to recruiting staff, claimed Standard Life.
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OpinionBPA market poised to take off in 2023
The pensions universe looks very different in 2023 to a year ago, especially with regards to the derisking market.
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NewsAerospace scheme secures buy-in, baking co-op derisks with L&G
Risk watch: A round up of the latest derisking transactions, including the Cobham Pension Plan £530mn bulk annuity deal with Standard Life, and the Flour Milling and Baking Research Association Pension and Assurance Scheme £10mn assured payment policy.
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NewsWHSmith scheme completes £1bn full buy-in
On the go: The WHSmith Pension Trust has secured a £1bn full buy-in with Phoenix Group subsidiary Standard Life.
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NewsAnnuities make slow comeback as retirees look for income certainty
After a decline in annuity sales following the pension freedoms, the market seems to have levelled off with purchases accounting for around 10 per cent of total market share, according to the Pensions Policy Institute.
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NewsSchemes and providers team up to push pensions engagement
On the go: Around 15 pension providers and schemes representing approximately 41.5mn savers and customers have committed to support a campaign to encourage engagement with pensions.
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NewsPension providers call for personalised advice rules
On the go: Pension providers have called on MPs to change advice rules to allow them to offer more personalised guidance.
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NewsGovt called to improve pensions advice and guidance gap
On the go: A think tank has called on the government and regulators to improve the nation’s pensions knowledge, after a study highlighted the significant gap in the take-up of guidance and advice.
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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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NewsJohnson ignores tax proposal on scam victims
Prime Minister Boris Johnson has failed to acknowledge three letters from a prominent campaigner on pension scams, which propose changes to tax rules over early pension access in a bid to protect scam victims.
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NewsNorthern Bank agrees two buy-ins, Phoenix signs reinsurance deals
Riskwatch: A roundup up of the latest derisking transactions, including Northern Bank Pension Scheme’s two buy-in transactions with Aviva, and Phoenix Group’s two longevity reinsurance transactions with a MetLife subsidiary.
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NewsStandard Life moves 1.5m savers into sustainable default funds
On the go: Standard Life, part of Phoenix Group, is moving £15bn of assets and 1.5m pension clients to a default strategy that will mainly provide a passive, lower-cost sustainable solution.
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NewsDerisking activity ramps up in Q3
Data crunch: Derisking activity picked up in the third quarter of 2021, as bulk annuity transactions reached their highest point of the year.
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NewsHealthcare diagnostics scheme completes £130m full buy-in
On the go: The PerkinElmer (UK) Pension Scheme has completed a £130m full buy-in with Phoenix Group subsidiary Standard Life.
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NewsTfL, Avon Pension Fund and Phoenix Group commit to net zero
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with the Transport for London Pension Fund committing to net-zero carbon emissions by 2045, Avon Pension Fund shifting £780m into a Paris-aligned benchmark, and Phoenix Group setting a carbon emission-reduction target of 50 per cent by 2030.
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NewsPearl Group pension fund completes further buy-in
On the go: The £2.9bn Pearl Group Staff Pension Scheme, one of Phoenix Group’s main pension schemes, has completed a second £998m buy-in with the group’s life assurance company, Phoenix Life.
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NewsSeven providers sign up for dashboard test
On the go: Seven software providers, third party administrators and pension providers will be taking part in the first test of the pensions dashboard.
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NewsDigital imaging scheme completes £230m buy-in
On the go: The Agfa UK Group Pension Plan has completed a £230m annuity buy-in transaction with Phoenix Group, covering 70 per cent of its pensioner liabilities.