Pension Buyout Sales Break 15-Year Record, LIMRA Finds

U.S. single premium pension buyout sales broke a 15-year record in the second quarter, according to a LIMRA survey. The sales of $4.1 billion was the highest second quarter buyout sales total since 2002.

LIMRA researchers say with low interest rates, stock market volatility, increased longevity and rising Pension Benefit Guarantee Corporation premiums it’s been a challenge for employers to offer their employees defined benefit pension plans, so they’ve turned to pension buyouts.