Record pension scheme funding means up to £160 billion ready to boost growth

Competitive pension buyout costs decline in April 2025, Milliman reports

Milliman, Inc., a consulting and actuarial firm, has released its latest Milliman Pension Buyout Index (MPBI), revealing a meaningful reduction in the estimated cost of transferring retiree pension liabilities to insurers. According to Milliman’s April 2025 analysis, the cost of executing a pension risk transfer (PRT) through a competitive bidding process fell from 102.5% to 101.1% of a plan’s accounting liabilities, as measured by the accumulat…

Vicky Pearce: From pain to gain in PI renewals

Illustration by Dan Murrell Only a few years ago, this article would have read very differently. Back in 2020, simply securing professional indemnity insurance (PI) was the focus for most firms, particularly those providing DB pension transfer advice. Now, the PI landscape has shifted. The market is softer and that opens up opportunities – not only to secure comprehensive cover, but also to reduce your premium. Gone are the days when those who h…

Record pension scheme funding means up to £160 billion ready to boost growth

Funding levels in the Defined Benefit (DB) pension sector have hit a record high, with three in four now in surplus and deficit payments down by over £10 billion a year Increased resilience follows years of businesses creating security for members through building a larger surplus. New freedoms to safely release surplus funding will unlock investments and benefit savers as part of the Government’s Plan for Change. Working people, pension scheme …

UK DB funding levels hit record high with £160bn ready to boost growth

UK government is expected to publish a response to surplus extraction rules in coming weeks