By Susanna Rust2021-06-01T10:36:00+01:00
A UK pension scheme of travel agency company TUI has agreed two pension risk transfer transactions for £794m (€921m) with Legal & General Assurance Society Limited.
The deals comprise a £610m partial buy-in for the BAL section of the TUI Group UK Pension Trust, and a £184m full buy-in for the TAPS section of the scheme. There are three pension sections within the scheme.
Mike Roberts from PAN Trustees, chair of the trustee board, said the transaction had concluded at attractive pricing, closing the gap to being fully funded and providing increased security of benefits for members of the scheme.
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
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TPR interim chair Sarah Smart grilled over potential BA scheme conflict
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Smart became interim chair this month
The Pensions Regulator (TPR) interim chair Sarah Smart has tried to reassure MPs that no conflict of interest will arise from her husband’s role at the British Airways pension schemes.
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Speakers discuss how to analyse climate risk, and what the practical experiences of funds and pools are.
This extremely topical webinar is chaired by LGC’s features editor, Martin George and our expert panellists taking part in the debate include:
Ben Yeoh, Senior Portfolio Manager, RBC Global Asset Management (UK) Limited