The six-year trend in falling life expectancy improvement rates has become "the new norm", according to 60% of scheme respondents to a Lane Clark and Peacock (LCP) survey.
It comes after longevity improvement rates fell from 3.1% per annum in 2011 to 1% per annum in 2016, meaning schemes holding a triennial valuation this year could see liabilities fall by 4% since their...
The number of defined benefit (DB) scheme members with benefits protected by an insurer will double by the middle of the decade, according to Lane Clark & Peacock (LCP).
Aviva Life & Pensions has concluded an £875m buy-in with its own staff pension scheme, following on from a similar transaction last year.
Just Group has completed a £74m pensioner buy-in with the UK pension scheme of a US-listed engineering business.
The Smiths Industries Pension Scheme has secured a £146m buy-in with Canada Life in its fourth bulk annuity and its sponsor’s tenth overall.
The Prudential Staff Pension Scheme has entered into a £3.7bn longevity swap with Pacific Life Re, insuring the longevity risk of over 20,000 pensioners.