Improved funding levels have many U.K. defined benefit plan trustees eyeing bulk purchase annuities, according to a survey released Monday by Standard Life.
The insurer, part of Phoenix Group, surveyed 50 trustees managing pension funds that each have more than £100 million ($131 million) in assets and found that 50% anticipate a bulk annuity transaction within five years, while 36% of them expect to do so within one year.
The research was conducted for Standard Life by Censuswide between April 28 and May 9.