Rothesay Life and Paternoster have reinsured £450m of longevity risk with US-based Prudential Retirement.
The transaction will reinsure the longevity risk of both buy-in, buyout and longevity swap deals written by the firms, covering pensioners and members who have yet to retire. Rothesay Life - which acquired...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter