Aiming for buy-out

In our recent Fiduciary Management Survey (see page 3), we found a significant increase in the number of schemes focusing on buy-out as a Long-Term Funding Target (LTFT). This shift has been driven in part by improvements to scheme funding positions as a result of increases in gilt yields across 2022. Regulatory pressures are also playing a role, and a buoyant insurer market is also helping to make buy-out look more attractive.

This guide explores how trustees can work with a fiduciary manager to help them plan and transact a buy-out, from thinking about investment strategies and taking an independent view on potential buy-out insurers, to ensuring that transactions run smoothly both at the time of buy-out and immediately afterwards.

I hope you find it valuable and practical.

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