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.
Scottish Widows has reinsured the longevity risk for around £1.3bn of its bulk annuity liabilities with The Prudential Insurance Company of America (PICA).
The Continuous Mortality Investigation's (CMI's) longevity model is a useful projection tool for schemes but, as Amy Kessler explains, it has key limitations.