Pension agreement of the year Paternoster and Emap
Amid the increase of activity in the bulk purchase annuity sector, Paternoster's move to become scheme sponsor and assume data risk for publishing company Emap has broken new ground
Economic theory suggests that increased competition has two main benefits for consumers - falling prices and greater innovation - and the UK's bulk purchase annuity sector's move from a duopoly to a market containing over a dozen members has been a case in point.
The past 18 months have seen a slew of innovative ideas - partial buyouts, syndication of large deals and longevity hedges to give just three examples - but Paternoster's decision to become scheme sponsor and assume all the data risk for
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