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Insurers offer pension schemes discounts to meet buyout targets

Plans pursuing bulk annuity transactions offered multimillion incentives to accelerate deals
Some schemes had been offered a discount of up to 5 per cent to bring forward a transaction.

Insurers are offering pension schemes discounts amounting to tens of millions of pounds to rush through buyout and buy-in deals as they struggle to meet year end targets.

Pensions buyout and buy-in deals — or bulk annuity transactions — where an insurer takes over the responsibility for meeting obligations to pensioners are complex deals which typically take six months or more to negotiate. 

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