Author: Mark McCord

UK Chancellor of the Exchequer Rachel Reeves’ announcement that she wants to unshackle billions of pounds locked in defined benefit (DB) pension fund surpluses has raised questions about how such a move might impact the country’s bulk purchase annuity market.

Growth in the purchase of bulk annuity contracts by small defined benefit (DB) pension schemes over the past couple of years has been accompanied by the emergence of templated transfer processes that speed the closure of deals, enabling insurers to execute more of them.