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The defined benefit (DB) pensions de-risking market is likely to see one of its biggest years on record in 2023, with at least £40bn in bulk annuity transactions and £20bn in longevity hedges expected to be completed, WTW predicts.
2022 has been another bumper year for longevity swaps. The total value of business written is expected to exceed £15 billion for the third year in a row and with...
Lloyds Banking Group Pensions Trustees has completed a second longevity hedging arrangement, protecting a further £5.5bn of liabilities with Scottish Widows and SCOR.
Record-breaking levels of pension de-risking transactions could be agreed this year amid a burgeoning market, says WTW.
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 members in the world of pensions.Download Find whitepapers