Pension buyouts

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  1. Brink's offers lump-sum payment to former employees

    trueThe Brink's Co., Richmond, Va., announced on Friday it has offered certain former employees who are vested in its U.S. defined benefit plan the option to accept a lump sum.

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  1. PGL Pension Scheme conducts £900 million longevity swap

    trueThe trustees of the PGL Pension Scheme, Birmingham, England, hedged the longevity risk of £900 million ($1.5 billion) of liabilities with Phoenix Life.

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  2. Vestey Group enters into pension buyout with Rothesay Life

    trueVestey Group has conducted a £280 million ($464.4 million) bulk annuity deal with Rothesay Life for its pension fund, Western United Group Pension Scheme, London, said Ben Fowler, group head of reward and HR development for the firm.

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  3. Lehman Brothers agrees to fully fund U.K. pension plan for buyout

    trueParticipants in the Lehman Brothers pension fund in the U.K. will receive their full retirement benefits, after an agreement to pay £184 million ($307.2 million) to fund a buyout was reached between relevant parties.

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  4. Miki Travel enters into pension buyout with PIC

    trueMiki Travel Ltd. Pension & Assurance Scheme, London, entered into a pension buyout with Pension Insurance Corp., covering £45 million ($75.9 million) of liabilities.

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  5. Visteon buys annuity to dump $350 million in pension liabilities

    trueVisteon Corp., Van Buren Township, Mich., purchased a group annuity contract from Prudential Insurance Co. of America to transfer about $350 million of the company's $1.1 billion in U.S. pension liabilities, spokesman Jim Fisher said.

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  6. Merchant Navy Officers completes pension buyout

    trueMerchant Navy Officers Pension Fund entered into a £25 million ($43 million) deal with Rothesay Life to complete a £1.3 billion pension buyout that started in 2009 to transfer 100% of the liabilities of its Old Section pension plan.

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  7. BT Pension Scheme strikes record risk transfer deal

    trueBT Pension Scheme, London, has entered into the largest longevity risk transfer deal, covering £16 billion ($27.4 billion) of liabilities in an arrangement that also saw the fund set up a wholly owned insurance company, said a fund spokeswoman.

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  8. NCR Corp. makes lump-sum offer for U.S. retirees

    trueNCR Corp. announced on Tuesday it will make a voluntary lump-sum offer to about 20,000 U.S. retirees.

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  9. Oil company Total completes £1.6 billion pension buy-in

    trueTotal U.K. Pension Plan, London, completed a £1.6 billion ($2.7 billion) buy-in with Pension Insurance Corporation.

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  10. Mercer: Pensions funds seek to offload liabilities in pieces

    truePension funds looking to offload risk will parcel up their liabilities into “bite-sized chunks,” according to Mercer.

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  11. Alcatel-Lucent plans voluntary lump-sum offer in 2015

    trueAlcatel-Lucent plans to make a voluntary lump-sum offer in 2015 to about 45,000 U.S. retirees and former employees vested in its U.S. defined benefit pension funds, according to a 6-K filing with the SEC.

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  12. Executives split over possible pension risk transfer crunch

    trueA growing number of large pension risk transfer deals in the U.K. and U.S., coupled with an anticipated influx of deals across both markets, have left industry executives split over the potential for a capacity crunch.

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  13. Corporate pension plans slow to adopt derisking

    trueMany corporations have not moved to derisk their pension plans, leaving them vulnerable to widening funding deficits if equity markets and interest rates decline, according to asset management strategists.

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