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      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
      • Webinar
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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 swaps

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
List: The biggest UK longevity swaps
List: The biggest UK longevity swaps

There have now been a total of 32 longevity swaps over £1bn publicly announced. The full list, provided by Willis Towers Watson and through PP research, is as follows...

  • Risk Reduction
  • 15 December 2020
Barclays Retirement Fund completes £5bn longevity swap with Reinsurance Group of America
Barclays Retirement Fund completes £5bn longevity swap with Reinsurance Group of America

The Barclays Bank UK Retirement Fund has completed a £5bn longevity swap with Reinsurance Group of America (RGA).

  • Risk Reduction
  • 14 December 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
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
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
LV= converts longevity swap into £800m buy-in with Phoenix Life
LV= converts longevity swap into £800m buy-in with Phoenix Life

The LV= Employee Pension Scheme has agreed a buy-in of around £800m with Phoenix Life after converting an existing longevity swap.

  • Risk Reduction
  • 28 July 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
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
Pensions too complicated for general election campaigns
Pensions too complicated for general election campaigns

Pensions are too complicated a topic for political parties to discuss in any detail on the general election campaign trail, a majority of this week’s 110 Pensions Buzz respondents said.

  • Industry
  • 28 November 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
Bulk annuity market breaks yet another record with £17bn of first half deals
Bulk annuity market breaks yet another record with £17bn of first half deals

Around £17.5bn of buy-ins and buyouts were transacted in the first half of the year as market records continue to tumble.

  • Risk Reduction
  • 08 August 2019
HSBC scheme completes £7bn longevity swap with PICA
HSBC scheme completes £7bn longevity swap with PICA

The HSBC Bank (UK) Pension Scheme has hedged its longevity risk with Prudential Insurance Company of America (PICA) in the second-largest ever deal of its type.

  • Risk Reduction
  • 06 August 2019
Applying behavioural science to pensions risk settlement
Applying behavioural science to pensions risk settlement

Tendencies to prefer the status quo and familiar names can result in slower or more irrational decisions, Aon says. James Phillips explores the impediments to risk settlement.

  • Risk Reduction
  • 22 July 2019
Managing longevity swap collateral
Managing longevity swap collateral

Robert Wagstaff and Caroline Cruickshank assess the benefits of using third-parties to help manage longevity swap valuation and collateralisation

  • Risk Reduction
  • 19 January 2018
Converting longevity swaps into bulk annuities: The next de-risking innovation?
Converting longevity swaps into bulk annuities: The next de-risking innovation?

Longevity hedges have long been considered a hurdle to doing a bulk annuity, but a ground-breaking deal shows it doesn't have to be. Stephanie Baxter looks at why converting swaps into buy-ins is taking off.

  • Risk Reduction
  • 10 April 2017
A dip or a blip: What do falling life expectancies mean for DB schemes?
A dip or a blip: What do falling life expectancies mean for DB schemes?

Mortality improvements have declined for yet another year, ducking previous estimates. James Phillips explores what this means for pension schemes

  • Defined Benefit
  • 31 March 2017
Phoenix Life's £1.2bn buy-in for own scheme is biggest transaction for 2016
Phoenix Life's £1.2bn buy-in for own scheme is biggest transaction for 2016

Phoenix Life has announced it completed a buy-in for its UK defined benefit (DB) scheme last December, making it the largest de-risking transaction of the year.

  • Risk Reduction
  • 21 March 2017
Aon urges continued caution on longevity price dislocation
Aon urges continued caution on longevity price dislocation

Aon Hewitt is reiterating its call for pension schemes to review the emerging lower rates of UK mortality improvement to ensure fair pricing of longevity insurance transactions.

  • Defined Benefit
  • 06 February 2017
Annuity deals hit £18bn in 2016
Annuity deals hit £18bn in 2016

The total value of annuity deals was 30% higher in 2016 than at the previous market peak in 2014, Aon Hewitt's UK Risk Settlement Bulletin has revealed.

  • Risk Reduction
  • 24 January 2017
Five stories you might have missed this week
Five stories you might have missed this week

This week's top stories included British Steel trustees rejecting an "unviable plan" to rescue the scheme, and Baroness Ros Altmann calling on the government to amend section 75 debt regulations.

  • Industry
  • 20 January 2017
Zurich and Mercer complete £300m longevity hedge swap
Zurich and Mercer complete £300m longevity hedge swap

Zurich has completed a £300m longevity hedge swap with an undisclosed pension scheme of a small firm, marking its fifth such deal in 13 months.

  • Risk Reduction
  • 17 January 2017
Schemes should delay longevity swap transactions due to pricing dislocation
Schemes should delay longevity swap transactions due to pricing dislocation

Schemes should consider delaying longevity swap transactions as lower rates of mortality improvement have led to a dislocation in pricing says Aon Hewitt.

  • Defined Benefit
  • 27 October 2016
123

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USS: Cost of scheme is 'growing challenge' as future returns 'likely to be lower'
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