Pilkington Superannuation Scheme has insured £1bn of liabilities against unexpected longevity increases, in a deal which confirmed 2011 as a record year for the de-risking market
The arrangements with Legal & General insure the payment of benefits to 11,500 pensioner members against future longevity risk and have been reinsured with Hannover Re. Chairman of trustees Andrew Robb...
With pressures on health unlikely to abate in the near future, Aon's Guide to Risk Settlement analyses the cost of longevity reinsurance.
"The solvency deficit reported by our scheme actuary is much bigger than the company can afford. It's not worth us thinking about buyout now.. is it?"
Navigating the settlement market to find a solution that best meets an investor’s needs is a challenge that continues to plague the market
Concerns have been raised about making members more aware of risks to their defined benefit (DB) pensions, for fear of leading to panic and knee-jerk reactions.
The de-risking phenomenon is drying up long-term investment in younger generations as companies are forced to put more into defined benefit (DB) schemes, according to Ashok Gupta.