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    • Upcoming events
      event logo
      Webinar: Using passion for ESG to unleash member engagement

      This webinar will look at how pension schemes can harness their members’ interest in ESG to engage them more broadly with their pensions. In particular, it will look at exclusive research showing how members are reacting to ESG; their propensity to act versus their actual behaviour; and the expectations they have of providers in this regard.

      • Date: 26 Jan 2021
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      Investment Conference

      This two part Investment Conference will bring you the latest updates from economists, asset managers and pension consultants. We will be taking a look at the outlook for the 2021 economy, alternatives, cashflow strategies and global equity markets to name a few, assessing how they fared through the volatility and what we can expect for the year ahead.

      • Date: 27 Jan 2021
      • Digital Conference
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      Webinar: What to put on your GMP Equalisation project roadmap for 2021

      This webinar will bring together views from actuaries, lawyers, administrators, trustees and data experts to look at the pragmatic, collaborative solutions that are open to schemes to solve the GMP equalisation challenges in 2021. It will assess the individual challenges schemes face with equalisations and provide some practical options that are available to resolve these issues.

      • Date: 02 Feb 2021
      • Webinar
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      Webinar: Will the world return to normal in 2021?

      In this webinar, PP editor Jonathan Stapleton will be joined by BMO’s chief economist Steven Bell and director of fiduciary management, Christy Jesudasan, alongside PTL trustee director Melanie Cusack and Isio’s head of fiduciary management oversight Paula Champion to discuss the significant impact of these themes on the pensions sector.

      • Date: 04 Feb 2021
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  • Whitepapers
    • How DC schemes can gain exposure to different asset classes in a low-return environment

      So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).

      Download
      Pension freedoms three years on

      In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.

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Longevity Risk

Exclusive: Market volatility to spur £30bn of buy-ins and buyouts in 2021
Exclusive: Market volatility to spur £30bn of buy-ins and buyouts in 2021

Pension risk transfer volumes this year will look similar to those in 2020 as market volatility creates opportunities for schemes able to act fast, according to Willis Towers Watson.

  • Risk Reduction
  • 19 January 2021
CMI: Deaths 51% higher in week to Christmas than in 2019
CMI: Deaths 51% higher in week to Christmas than in 2019

Deaths in England and Wales were 51% higher in week 52 of 2020 than the corresponding period of 2019, although partly inflated by bank holidays, according to the Continuous Mortality Investigation (CMI).

  • Industry
  • 07 January 2021
BBC enters £3bn longevity swap with Zurich and Canada Life
BBC enters £3bn longevity swap with Zurich and Canada Life

The BBC Pension Scheme has completed a £3bn longevity swap deal with Zurich and Canada Life Reinsurance, covering the risk of pensioner and dependent members.

  • Risk Reduction
  • 15 December 2020
Companies overstate liabilities by £60bn amid Covid deaths
Companies overstate liabilities by £60bn amid Covid deaths

Companies could be overstating their pension liabilities by up to £60bn due to their life expectancy assumptions, according to XPS Pensions Group.

  • Defined Benefit
  • 25 November 2020
Prudential agrees £3.7bn longevity swap with Pacific Life
Prudential agrees £3.7bn longevity swap with Pacific Life

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.

  • Risk Reduction
  • 11 November 2020
Two in five schemes expect to transfer risk within three years, finds Willis Towers Watson
Two in five schemes expect to transfer risk within three years, finds Willis Towers Watson

Two in five UK defined benefit (DB) schemes expect to complete a bulk annuity or longevity swap transaction within the next three years, Willis Towers Watson research finds.

  • Risk Reduction
  • 14 October 2020
What Covid-19 means for longevity and bulk annuities
What Covid-19 means for longevity and bulk annuities

Darryl Brundle and Ashley Kanter look at the contrasting pressures and easements on longevity associated with the pandemic

  • Risk Reduction
  • 13 October 2020
Self-sufficiency falls in popularity as long-term objective
Self-sufficiency falls in popularity as long-term objective

Fewer pension schemes are targeting self-sufficiency as their long-term objective while bulk annuity pricing improves and the consolidation market opens up.

  • Risk Reduction
  • 08 October 2020
Schemes to transfer £50bn of risk to insurers this year
Schemes to transfer £50bn of risk to insurers this year

Around £50bn of risk will be transferred to the bulk annuity and longevity swap market by the end of the year despite a slow start to the market, Aon says.

  • Risk Reduction
  • 05 October 2020
Why schemes must avoid overreacting to disrupted CMI Model
Why schemes must avoid overreacting to disrupted CMI Model

While the CMI Model of longevity improvements has proved reliable, Covid-19 threatens to cause it to show an unrealistic falls in life expectancy. Tim Gordon explains why the industry should not overreact

  • Defined Benefit
  • 22 September 2020
Market growing for longevity swaps for deferred members
Market growing for longevity swaps for deferred members

Longevity swap usage is expected to grow further as more reinsurers enter the market to hedge the risk of deferred members, according to Mercer.

  • Risk Reduction
  • 04 August 2020
Prudential Retirement completes $1.7bn of longevity reinsurance
Prudential Retirement completes $1.7bn of longevity reinsurance

Prudential Retirement reinsured $1.7bn (£1.4bn) of UK pension scheme longevity risk in the first half of the year, it has revealed.

  • Risk Reduction
  • 09 July 2020
UBS completes £1.4bn longevity swap with Zurich and Canada Life
UBS completes £1.4bn longevity swap with Zurich and Canada Life

The UBS (UK) Pension and Life Assurance Scheme has hedged the longevity risk of around half its defined benefit (DB) liabilities through a £1.4bn longevity swap completed with Zurich and Canada Life Reinsurance.

  • Risk Reduction
  • 07 July 2020
Covid-19 causes little direct impact on DB liabilities
Covid-19 causes little direct impact on DB liabilities

Just a fraction of liability growth since the start of the year will be offset by the impact of excess deaths caused by Covid-19, says Lane Clark & Peacock (LCP).

  • Risk Reduction
  • 22 June 2020
The changing ways of hedging longevity risk
The changing ways of hedging longevity risk

Nikhil Patel looks at how schemes have hedged longevity over the last decade, and how this will develop in the future.

  • Risk Reduction
  • 09 June 2020
Preparing for de-risking transactions
Preparing for de-risking transactions

With bulk annuity markets becoming increasingly busy before Covid-19, James Geer looks at what steps trustees can take to improve their chances of transacting.

  • Risk Reduction
  • 29 May 2020
De-risking in a crisis: What you can do during the coronavirus pandemic
De-risking in a crisis: What you can do during the coronavirus pandemic

While market conditions may have put a dent in your de-risking plans, there is still plenty of preparation you can do and opportunities to take advantage of, says Michael Abramson.

  • Risk Reduction
  • 23 March 2020
Managing the next biggest liability risk
Managing the next biggest liability risk

Very few schemes have protection in place against longevity risk in their scheme liabilities. Howard Kearns explains why and how to rectify this

  • Risk Reduction
  • 29 January 2020
Lloyds schemes agree £10bn longevity swap with Pacific Life Re
Lloyds schemes agree £10bn longevity swap with Pacific Life Re

Three Lloyds Banking Group pension schemes have transferred £10bn of longevity risk to Pacific Life Re in the second-largest longevity swap ever.

  • Risk Reduction
  • 29 January 2020
Longevity swap market to post record year
Longevity swap market to post record year

Longevity swap transactions will hit a record-breaking level of £25bn this year, Willis Towers Watson has predicted.

  • Risk Reduction
  • 21 January 2020
Longevity hedging most popular tool in endgame planning
Longevity hedging most popular tool in endgame planning

Schemes are increasingly looking at longevity hedging as part of their de-risking process, according to a survey by Insight Investment.

  • Risk Reduction
  • 24 December 2019
Zurich insures £800m of FTSE 100 scheme longevity risk
Zurich insures £800m of FTSE 100 scheme longevity risk

Zurich has agreed to insure £800m of longevity risk for the pensioners of a FTSE 100-sponsored pension scheme.

  • Risk Reduction
  • 17 December 2019
How wearables will disrupt life expectancy
How wearables will disrupt life expectancy

There are a wide range of possible life expectancy disruptors. PwC's Paul Kitson looks at how one of these, wearables, could impact schemes.

  • Defined Benefit
  • 19 November 2019
CMI data shows further mortality improvements
CMI data shows further mortality improvements

Pension schemes face higher liabilities as improvements in mortality rates trend towards their highest level in a decade.

  • Defined Benefit
  • 29 October 2019
123

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Mark Stocker dies following cancer battle
Pension Schemes Bill gets final approval and waits for Royal Assent
Pension Schemes Bill gets final approval and waits for Royal Assent
Boohoo acquisition of Debenhams leaves schemes with PPF
Boohoo acquisition of Debenhams leaves schemes with PPF
USS: Cost of scheme is 'growing challenge' as future returns 'likely to be lower'
USS: Cost of scheme is 'growing challenge' as future returns 'likely to be lower'
New TPR powers could lead to upsurge in clearance applications
New TPR powers could lead to upsurge in clearance applications
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