Reducing Investment and Longevity Risk Through a UK Pension Scheme Buy-in
First written in FY2021-Q1. 2 of 4 entries say "Restated". Latest entry: FY2021.
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- FY2021AdvancedAnnual report
「In March 2021, the Company also implemented a pension buyout covering pension benefits for beneficiaries of a major US pension plan.」
Following the UK pension buy-in, the Company implemented a pension buyout for beneficiaries of a major US pension plan, transferring the investment and longevity risks associated with the covered benefits. - FY2021-Q3RestatedAnnual report
「As a result, the pension plan was released from the investment risk associated with plan assets and the risk of increases in defined benefit obligations due to the increasing longevity of beneficiaries, among other factors. However, the Company Group continues to have legal or constructive obligations requiring it to make additional payments if the insurance company fails to pay employees the benefits specified in the insurance policy.」
While the UK pension buy-in reduced investment and longevity risks, it was reaffirmed that additional obligations would remain if the insurance company defaulted. - FY2021-Q2RestatedAnnual report
「As a result, the pension plan was released from the investment risk associated with plan assets and the risk of increases in defined benefit obligations due to the increasing longevity of beneficiaries, among other factors. However, the Company Group continues to have legal or constructive obligations requiring it to make additional payments if the insurance company fails to pay employees the benefits specified in the insurance policy.」
While the UK pension buy-in reduced investment and longevity risks, it was reaffirmed that additional obligations would remain if the insurance company defaulted. - FY2021-Q1First statedAnnual report
「As a result, the pension plan was released from the investment risk associated with plan assets and the risk of increases in defined benefit obligations due to the increasing longevity of beneficiaries, among other factors.」
The Company implemented a pension buy-in for a major UK pension plan, contributed plan assets to an insurance company and entered into an insurance contract guaranteeing future pension benefits. The reduction of investment risk and the risk of increases in obligations due to increasing beneficiary longevity, among other factors, was newly described.