My Civil Service Pension will transfer its employees to a Prudential defined benefit scheme.
M&G has seen net outflows of £631m from its institutional business in the first quarter of the year but large inflows on the retail side helped it grow total funds under management to more than £200bn.
Sir Nigel Rudd, the former Citigroup banker, is in the running to become the next chairman of Prudential.
The Prudential has won a contract to provide an additional voluntary contribution scheme to employees of Powys County Council.
UBS and Nomura have followed Credit Suisse in pulling out of the longevity swap market, citing capital requirements and regulatory changes, PP understands.
Prudential has introduced an "early exit penalty" for new local government pension scheme members making short-term additional voluntary contributions to cover lost fund management charges.
JLT Pension Capital Strategies has appointed Martyn Phillips as head of buyout consulting from 2 April.
Insurance giant Prudential saw profits climb marginally to £723m last year.
Jack Jones investigates the develoment of longevity swaps
US - Pramerica Investment Management, a subsidiary of Prudential Financial with $583bn in assets under management, named David Hunt chief executive officer.