The BT Pension Scheme (BTPS) has entered into a £16bn longevity swap to hedge more than a quarter of its exposure to longevity risk.
The deal with the Prudential Insurance Company of America (PICA) dwarfs previous transactions and covers more than three times more in liabilities than the previous record-holder. It is the seco...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date