US - Goldman Sachs Group has launched the first tradable index for longevity and mortality risks, called QxX.LS.
Goldman Sachs said historically holders of longevity and mortality risks, such as pension funds, had no mechanism to dynamically manage their exposures in the capital markets.
Alex Dubitsky, head of Goldman Sachs' Longevity Markets Group, said: "We are excited about bringing this unique product to the market and believe that it will quickly establish itself as the market benchmark. This will result in more transparent pricing of longevity risk, should reduce transaction friction, and will likely lead to improved economics for market participants,"
This week's edition of Professional Pensions is out now
Collective defined contribution (CDC) schemes will need clear and transparent governance frameworks, as well as effective communication strategies, to be a success, the Work and Pensions Committee (WPC) has been told.
The aviation sector's constant evaluation of mistakes to improve safety should be applied to defined benefit schemes, as too many are making the same mistakes again and again, latest research shows.
A month of strikes are due to hit 64 universities from tomorrow over major reforms to the Universities Superannuation Scheme (USS).