The LV= Employee Pension Scheme has entered into an £800m longevity swap with Swiss Re to hedge the longevity risk associated with more than 5,000 members.
Unusually, 1,000 of the members covered are yet to retire. The only other longevity hedging transaction to include non-pensioner members was the Pall deal last year (PP Online 1 February). The LV= swap...
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.