UK Pension Deal Volume Reaches 2nd Highest On Record

Law360, London (September 11, 2020, 2:48 PM BST) -- The volume of bulk annuity transactions in the first six months of the year has risen to the second highest on record as companies take advantage of cut-rate prices during the pandemic to offload liabilities, a pensions consultancy said Friday.

Lane Clark and Peacock LLP said that £12.6 billion ($16 billion) in buy-in and buy-out transactions had taken place in the first half of the year. The volume is second only to the £17.6 billion seen in the first half of 2019.

The rise in deals comes despite an initial slowdown caused from disruption from the pandemic-induced lockdowns in late March....

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