Strain on local government pensions is speeding up their maturity faster than previously thought, a leading consultant says.
UK public sector debt could soar to £750bn if the government does not address longevity risk, the International Monetary Fund has warned.
UBS and Nomura have followed Credit Suisse in pulling out of the longevity swap market, citing capital requirements and regulatory changes, PP understands.
The £1bn London Borough of Camden pension fund has appointed BlueCrest Capital Management to run a £50m fund of hedge fund mandate.
John Walbaum of Hymans Robertson proposes a fairer alternative to the universal pension.
The industry breathed a collective sigh of relief after today's Budget, with no changes to higher-rate tax relief and announcements on state pension reform and infrastructure investment.
UK schemes have hedged longevity risk for 10% of pensioner members after conducting a record £12.4bn in risk transfer deals last year, according to Hymans Robertson research.
John Walbaum puts forward a different approach to helping retirees attain a decent income.