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UK pension superfunds not as safe as insurers, actuary warns

Feb 28, 2019 - SNL European Financials Daily

Telling consumers that so-called pension superfunds are as secure as insurers would be a "grave mistake," according to a senior U.K. actuary.

Pension superfunds, also known as commercial consolidators, aim to buy up defined benefit pension schemes to free corporations from their pensions liabilities. Superfunds are intended to be a cheaper alternative to the bulk annuity buy-ins and buy-outs offered by U.K. life insurers for companies that cannot afford insurance solutions.

They are ...