All longevity articles – Page 3
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News
Trustees should monitor sponsor longevity when assessing covenant
On the go: Sponsor longevity is a vital part of covenant assessment, requiring professional judgement and a range of strategic tools, according to a new report by the Employer Covenant Practitioners’ Association.
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News
Barclays Bank agrees £5bn longevity swap
On the go: The Barclays Bank UK Retirement Fund has completed a £5bn longevity swap with Reinsurance Group of America.
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News
2020 risk settlement market could hit £50bn
On the go: Despite the turmoil caused by coronavirus and the government’s lockdown policy, 2020 could still be a record-setting year for the risk settlement market, with final volumes reaching or even exceeding £50bn, according to estimates from Aon.
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News
Bulk annuity volumes hit £12.6bn in H1 2020
On the go: Total buy-in and buyout volumes reached £12.6bn in the first half of this year, the second-highest value on record, according to analysis published by LCP.
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OpinionApplying the lessons of coronavirus to climate change
Kempen’s Nikesh Patel explains how current pension schemes’ longevity assumptions do not take into account climate change, which could have a drastic impact on the sector.
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News
UBS pension scheme enters into £1.4bn longevity hedge
On the go: The UBS (UK) Pension and Life Assurance Scheme has entered into a £1.4bn longevity hedge with Zurich Assurance, designed to protect the scheme against the risk of the 2,700 members covered living longer than expected.
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News
2020 set to be a record-breaking year for longevity swaps
On the go: Demand for longevity swaps is expected to set new records in 2020, reflecting in part a slight slowdown in the bulk annuity market, according to a report by Willis Towers Watson.
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PodcastsPodcast: The days of ‘amateurish’ trusteeship are over
Podcast: The challenges posed by Covid-19 will accelerate the move toward professional trusteeship, according to Mercer’s chief actuary Charles Cowling, who argues that the responsibilities in this area post-coronavirus will be too much for lay trustees to handle alone. He and Catherine McFadyen, head of public sector actuarial, benefits and governance at Hymans Robertson, discuss LGPS funding, the impact of mortality rates, and give their predictions about the post-crisis world.
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Features
Mounting Covid-19 death toll a bitter reprieve for pension schemes
Analysis: As the country anxiously tracks the accumulating death toll from Covid-19, pension trustees will eventually be forced to do a more perverse calculation: how much will the mounting fatalities reduce their funding deficits?
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News
Longevity swap investors warned over collateral calls
A spike in the UK mortality rate due to Covid-19 could raise concerns for defined benefit pension schemes that have implemented longevity hedging, as it could trigger collateral calls on their longevity swaps.
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News
Mortality rates see highest reduction since 2011
On the go: Mortality rates in England and Wales were on average 3.8 per cent lower in 2019 than in 2018, which is the largest annual fall in mortality rates since 2011, new data showed.
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News
Life expectancy in England stalling since 2010
On the go: Life expectancy in England is stalling for the first time in at least 120 years, a new report has concluded.
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News
Lloyds pension schemes agree to £10bn longevity swap
On the go: The trustee of the Lloyds Bank pension schemes has agreed to a £10bn longevity swap deal with Scottish Widows and Pacific Life Re.
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News
ONS: Life expectancy increases continue to stall
On the go: New data from the Office for National Statistics shows that life expectancy improvements continue to stall, which is expected to improve pension schemes liabilities.
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News
SSE further de-risks with £750m buy-in with PIC
On the go: The Scottish Hydro-Electric Pension Scheme – sponsored by Scottish and Southern Energy – has converted a longevity swap into a £750m buy-in contract with the Pension Insurance Corporation.
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Features
How can UK climb up global pension rankings?
Data Crunch: The UK is now the fourteenth-best pension system in the world scoring a C+, according to the 2019 Melbourne Mercer Global Pension Index, but low adequacy and sustainability scores suggest there is still a long way to go to improve retirement outcomes for members.
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News
ONS: Life expectancy edges up
On the go: Life expectancy in the UK has resumed its gradual increase after appearing to flatline last year, according to the Office for National Statistics.
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News
ONS: One in four people will be over 65 by 2050
On the go: The UK population is growing older, Office for National Statistics figures have shown, with potentially big repercussions retirement patterns.
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News
Slowdown in death rate in 2019 may increase DB liabilities
On the go: The relatively low number of deaths reported so far this year appears to buck the trend of stalling life expectancy improvements since 2011, an LCP report has highlighted.
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News
Fewer deaths in 2019 could increase DB liabilities
On the go: The mild UK winter could lead to an increase in pension scheme liabilities as 2019 to date has seen relatively few deaths, according to a firm of longevity specialists.