Chancellor Jeremy Hunt announced a package of reforms designed to boost pensions and increase investment in British businesses, in his first Mansion House speech which took place on 10 July.
Estimates suggest that 2023 is set to be a record-breaking year for the bulk purchase annuity (BPA) market, with a further surge in volumes expected over the next few years as pension scheme trustees increasingly look to BPA transactions as part of their de-risking strategy.
The implementation of the UK’s new collective defined contribution (CDC) regime could become one of the most innovative changes to the pensions regime in years, bringing the chance to help millions of retirees with no extra risk to employers.
Standard Life, part of Phoenix Group, has appointed Equiniti, to carry out administration of both buy-in and buy-out BPA (bulk purchase annuity) policies.
Government Working To “Revolutionise” Retirement Planning
