Keep up with what has been happening this week in our latest actuary news round-up…

UK companies could be overstating pension liabilities due to pandemic

According to research from XPS Pensions, it has found that accounts from UK companies could be overstating pension liabilities by up to £60bn due to the Covid-19 pandemic.

Investment firms strengthen risk functions during pandemic

KMPG’s sixth annual survey or risk and Internal Capital Adequacy Assessment Process has show that investment firms increased their risk controls during 2020 as a result of the Covid-19 pandemic.

Government to set up infrastructure bank and work with pension funds to support investment

The National Infrastructure Strategy has published the government’s plans to change the UK’s infrastructure network by setting up an infrastructure bank to work with pension fund which will support investments.

Retired individuals to receive 4.1% state pension rise in Spring 2022

The UK state pension is set to rise by 2.5% in April 2021 and will possibly have a bigger rise the following year seeing retired people receiving a 4.1% rise in their state pensions.

Just Group completes £74m buy-in with unnamed UK engineering pension scheme

Just Group have completed a £74m buy-in with a £170m UK pension scheme of an American-listed engineering business where the transaction leader Cartwright partnered with K3 Advisory to increase its access to the bulk annuity market.

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