On state pensions, the UK recently said that it would uprate them for Britons living abroad in the EU for the years 2020, 2021 and 2022
The USS, which has around 419,000 members across 350 universities in the UK, has seen its deficit balloon to £6.6bn by the end of July.
In the next 12 months, when the average transfer value jumped to £292,000, some 64 per cent of clients were advised to transfer out.
Study found more than half of retired Australians restrict their spending to less than what the age pension would provide, and many, possibly up to a third, live in poverty. This is not what successful retirement looks like.
In order to tap into this demand, the firm has opted to rebrand its specialist fiduciary management advice arm, previously known as Fiduciary Management Oversight, as FM Evaluate.
The trustee of the HSBC Bank (UK) Pension Scheme was advised by Willis Towers Watson, Sackers, Kramer Levin Naftalis and Frankel and Appleby.
It comes after the insurer, which remains fairly new to the bulk annuity market, also conducted a £460m buy-in with the Marks and Spencer Pension Scheme in April - and the half-year results confirmed a further £200m deal had been contracted ea