Pension buyouts to grow rapidly in 2008

Speaking at the Finance, Investment and Risk Management Convention in London, Lowe claimed the increase in buyouts provided good security for pension members. Lowe told convention delegates the value of pension buyouts had grown to £4.1bn in the six months to March 2008. “That is a seven-fold increase on the six months earlier, which is a very significant change,” he says. Pension Corporation predicts the upward trend will continue, and expects bulk annuity transfers to reach £10bn by the end of 2008. Lowe says proposed changes to regulation and legislation, competition between insurers...