Page 34 - Herbert Smith News Today

By Susanna Rust2020-12-15T17:12:00+00:00 The BBC Pension Scheme has completed a longevity swap that covers more than £3bn (€3.3bn) of pensioner liabilities, while the Aon Retirement Plan has completed a £510m pensioner buy-in, according to a pair of risk transfer announcements today. Zurich Life was the insurer in the BBC transaction, with reinsurance provided by Canada Life Reinsurance. The longevity insurance policy, the first the BBC scheme has entered into, relates to around one-third...

So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money, says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme...

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BDO holds on to furlough money despite partner pay-out BDO is one of the largest accounting firms in the UK Kris Tripplaar/SIPA USA/PA Images BDO, one of the UK’s top accounting firms, will keep its furlough money despite revealing it will pay partners an average of £518,000 each. The company received £2.7m in furlough support from the government in its financial year to June 2020, and said it received £4.7m in total. Furlough Managing partner Paul Eagland said the government money had ena...