All longevity articles
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NewsLloyds ringfences £5.1bn with two longevity swaps
Two defined benefit (DB) pension schemes sponsored by Lloyds Banking Group have agreed longevity insurance and reinsurance arrangements.
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NewsWhat a new mortality model means for your pension scheme
New mortality data and calculations being introduced later this year could increase liabilities for some DB schemes – but others could see theirs fall further.
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News2024 was record year for bulk annuities, data shows
Preliminary data on bulk annuity transactions shows that approximately £52bn worth of deals were completed last year – a new record.
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NewsAirways Pension Scheme insures £340m of longevity risk
The £5.2bn Airways Pension Scheme has completed a longevity reinsurance transaction with insurers MetLife and Zurich.
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NewsBulk annuities latest: Rothesay insures Avimo Pension Scheme for £50m
Specialist insurer Rothesay has completed a £50m buy-in of the Avimo Pension Scheme, covering more than 600 scheme members.
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NewsDC pensions: Providers and regulators need to work on innovation
DC pensions providers, regulators and the wider pensions industry need to develop resources to help members extract more value from their savings, a report has found.
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NewsBarclays Bank scheme completes £7bn longevity deal
On the go: The £41.2bn Barclays Bank UK Retirement Fund has reinsured £7bn of liability against longevity risk with an insurance subsidiary of Prudential Financial.
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NewsCoats UK scheme agrees £350mn bulk annuity deal with Aviva
On the go: The $3.1bn (£2.5bn) Coats UK Pension Scheme, which merged with the Brunel Holdings Pension Scheme and the Staveley Industries Retirement Benefits Scheme in 2018, has agreed a £350mn bulk annuity deal with insurer Aviva.
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NewsBalfour Beatty Pension Fund completes £1.7bn longevity swap
On the go: The £4bn Balfour Beatty Pension Fund has signed a £1.7bn longevity swap transaction with Zurich Assurance and Scor.
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NewsAerospace scheme secures buy-in, baking co-op derisks with L&G
Risk watch: A round up of the latest derisking transactions, including the Cobham Pension Plan £530mn bulk annuity deal with Standard Life, and the Flour Milling and Baking Research Association Pension and Assurance Scheme £10mn assured payment policy.
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News‘Let’s rethink all’ member options before dashboards introduction
Legislative and policy assumptions about member behaviour as they approach retirement are completely out of sync with reality, and now is the time to “rethink all of it” before dashboards are introduced, according to Philip Brown, group director of policy and external affairs at B&CE, provider of The People’s Pension.
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OpinionRetirement outcomes: The buck stops where?
Employers, scheme trustees and product providers are not directly responsible for the decisions people make once they access their pension pot, but the direction of travel is clear.
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NewsFirst-half bulk annuity volumes surge 50% against 2021
On the go: The pensions risk transfer market is up 50 per cent in the first half of 2022 compared with last year’s H1 figure, with £12bn in buy-ins and buyouts making for the third-largest H1 figure on record, according to analysis from LCP.
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NewsCollective defined contribution schemes launch in Great Britain
On the go: Providers in Great Britain are now able to apply to launch collective defined contribution schemes, a development hailed by pensions minister Guy Opperman for its potential to “transform the UK pensions landscape”.
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NewsUBS scheme extends longevity swap
On the go: The UBS (UK) Pension and Life Assurance Scheme has extended its longevity swap with Zurich Assurance and Canada Life Assurance Company by £0.5bn.
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NewsMcCloud sees more public sector schemes breach cost-cap ceiling
Three more public sector schemes have breached the cost-control mechanism as a result of the McCloud remedy, the Government Actuary’s Department has confirmed.
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NewsCrisis-driven mortality increase to reduce scheme liabilities
On the go: An increase in mortality rates brought about by the coronavirus pandemic, pressures on the healthcare system, and the cost of living crisis could see schemes’ liabilities reduced by around 2 per cent in the coming years, according to analysis from LCP.
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NewsPandemic could cut FTSE 100 DB contributions by £5bn
On the go: The wider health effects of the coronavirus pandemic could see FTSE 100 defined benefit scheme sponsors slash longer-term contributions by around £1bn a year, new research has revealed.
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NewsCall for evidence on state pension age changes as costs mount
On the go: The independent review of the state pension age has published a call for evidence seeking views on the fairness, sustainability and affordability of the system.
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NewsMid-sized deals prompt strong growth in bulk annuities market
On the go: Strong demand for bulk annuity transactions is likely to persist until the end of the decade, with annual liability deals totalling around £40bn, according to a new report from Moody’s Investors Service.