The Scottish Power Pension Scheme has entered into a swap with Abbey Life to hedge the longevity risk associated with £2bn of liabilities.
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The advisory board of the Local Government Pension Scheme (LGPS) has announced its 2015 strategy to tackle the scheme's estimated £47bn deficit.
Fewer than one in four schemes are confident their data is up to scratch for completing a risk transfer exercise, according to research from Aon Hewitt.
Research shows a 40% drop in new ABCs
BT will pay £1.5bn into its defined benefit (DB) pension scheme by April to tackle a £7bn deficit as part of an agreed recovery plan with the trustees.
Rothesay Life has revealed it agreed a deal to hedge £300m of longevity risk in December, taking the value of benefits reinsured by the firm over the year to £2.8bn.
Engineering solutions provider Costain Group has taken further steps to manage obligations in its legacy defined benefit (DB) scheme.
The trustee of the Merchant Navy Officers Pension Fund (MNOPF) has hedged the longevity risk for £1.5bn of the scheme's members.
The collective deficit of FTSE 350 defined benefit (DB) pension schemes increased 91% last year, according to research.