Rising discount rates were not enough to offset markets spooked in October by surging COVID-19 cases.
Mercer expects UK bulk annuity market to top £40 billion this year.
Mercer warns pension trustees to brace for a no-deal Brexit.
Survey also finds rising PBGC premiums encourage funding increases.
Mercer report explores key trends in international investor activity, including a reduction in fixed income in favor of equities.
PGGM gets an acting chairman, Northern Trust makes a swath of changes, and more.
Record amount attributed to rapidly growing buy-in, buy-out market.