COMPANY pension schemes offloaded a record level of looming pensioner payments in the second quarter, fresh figures show
Seven deals worth between £300m and £700m – totalling £3.7bn – helped take the half year total to £4.4bn, consultancy LCP said.
A large chunk of second quarter deals – some £1.17bn – was transacted by Prudential, which undertook the biggest deal of the period with the £680m buy-in by the Northern Bank Pension Scheme in April.
LCP predicts £10bn worth of deals will be struck this year, just shy of last year’s £12.5bn record.
Rothesay Life is currently the market leader this year for deals, undertaking £2.2bn worth of pension scheme de-risking deals.