All longevity articles – Page 2
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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.
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NewsNorthern Bank agrees two buy-ins, Phoenix signs reinsurance deals
Riskwatch: A roundup up of the latest derisking transactions, including Northern Bank Pension Scheme’s two buy-in transactions with Aviva, and Phoenix Group’s two longevity reinsurance transactions with a MetLife subsidiary.
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NewsState pension age rises could be changed as govt launches review
On the go: The government has launched a review of the state pension age to see whether the way it manages the cost is fair to taxpayers and pensioners.
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NewsPositive outlook for bulk annuity transactions in 2022
On the go: Insurers’ appetite for bulk annuities could be heightened in 2022 after a relatively slow 2021, according to research from Barnett Waddingham.
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NewsUK must take lessons from abroad to successfully integrate CDC
On the go: The UK must look to the international experience of collectivised pension schemes and prioritise effective member communications, the Work and Pensions Committee has heard.
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NewsBulk annuity deals’ strong momentum to carry on into 2022
On the go: Around £25bn worth of bulk annuity transactions is expected by the end of the year, recovering from a slow start and creating momentum expected to carry over to trades in 2022, according to Aon’s latest risk settlement market update.
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OpinionThe last great risk facing defined benefit pension schemes
Insight Investment head of solution design Jos Vermeulen argues that longevity swaps are an appealing solution for schemes, but further standardisation is required to make these transactions more popular and cost-effective.
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NewsFujitsu pension scheme completes £7.7m buy-in with Aviva
On the go: The Fujitsu General (UK) Co Limited Pension and Life Assurance Plan has completed a £7.7m full buy-in with Aviva.
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NewsIndustry experts predict limited roll-out of CDC schemes
The government's consultation on regulations governing collective defined contribution schemes was received as a welcome step forward in the industry, but experts have cautioned that initial demand is likely to be low due to the restrictive conditions and high costs imposed on the market.
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NewsAIB signs £61m buy-in with L&G after pioneering derisking solution
On the go: The £1.1bn AIB Group UK Pension Scheme has agreed a £61m deal with Legal & General Assurance Society that will see a tranche of an existing assured payment policy converted into a buy-in policy.
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NewsFujitsu pension plan signs £3.7bn longevity hedge
On the go: The ICL Group Pension Plan, a Fujitsu pension scheme, has insured longevity risk in respect of £3.7bn of its liabilities, with Swiss Re providing the reinsurance coverage.
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PodcastsPodcast: Pension schemes’ under-allocation to China is ‘anachronistic’
Podcast: UK pension schemes are too often under-allocated to China and missing out on the significant opportunities presented by its continued growth and development. There are, however, lingering environmental, social and governance concerns around investing in the “nominally communist” state, says RisCura investment consultant Lars Hagenbuch. He is joined by SEI Investments director Cyprian Njamma in an episode also covering Covid-19 mortality data and the Pensions Regulator’s proposed asset information reform.
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NewsTPR warns against hasty reactions to Covid-19 mortality figures
The Pensions Regulator has warned against hasty reactions to the Covid-19 pandemic, saying it is still “early days” in our understanding of how the virus has impacted longevity and life expectancy assumptions.
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News£6bn swap shows insurers’ appetite for longevity risk
On the go: A £6bn longevity swap by an unnamed UK pension scheme and the Prudential Insurance Company of America suggests that insurers’ appetite for longevity risk has not diminished, despite the uncertainty around the long-term impacts of the Covid-19 pandemic.
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News
Experts dismiss national pension fund proposal
Analysis: Experts have largely poured scorn on a highly controversial proposal to create a gigantic national sovereign fund by merging public schemes and then mopping up private plans as well.
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News
Pension schemes’ liabilities overstated up to £60bn
On the go: Defined benefit schemes’ liabilities may be overstated from 1.5 per cent up to 3.5 per cent following the Covid-19 pandemic, according to pensions consultancy XPS.
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NewsHalf of all DB liabilities paid out or insured by 2030
Fully half of all UK defined benefit liabilities will either have been paid out to members or insured by the end of the decade, according to analysis by Mercer, as buy-in and buyout values topped £30bn in 2020.