RAC Pension Scheme completes £600m longevity swap

Michael Klimes
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The RAC (2003) Pension Scheme has completed a £600m longevity swap with Scor Se, which could be a watershed in how small schemes manage longevity risk.

The deal was brokered directly with the reinsurance market via Aviva Life rather than through a traditional intermediary - and follows a similar deal with the Aviva Staff Pension Scheme last year. ...

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