Nationwide Pension Fund completes £1.7bn longevity swap

Transaction transfers longevity risk for around 7,000 members to Zurich UK and PFI

Martin Richmond
clock • 2 min read
Nationwide Pension Fund completes £1.7bn longevity swap

The Nationwide Pension Fund has completed a £1.7bn longevity risk transfer transaction with Zurich Assurance and Prudential Financial (PFI).

The transaction, which was signed off last month, transfers the longevity risk of approximately 7,000 scheme members covering £1.7bn of liabilities. Under the terms of the transaction, the longevit...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Risk Reduction

Clark & Butcher scheme secures £2m buy-in with Just Group

Clark & Butcher scheme secures £2m buy-in with Just Group

Deal secures the benefits of 15 pensioners and eight deferred scheme members

Holly Roach
clock 28 March 2025 • 1 min read
Six BPA insurers wrote deals of more than £5bn for first time last year

Six BPA insurers wrote deals of more than £5bn for first time last year

LCP says last year ‘most competitive year ever’ for BPA insurers

Jasmine Urquhart
clock 27 March 2025 • 2 min read
Webinar: Assessing the benefits of run-on – Register now

Webinar: Assessing the benefits of run-on – Register now

How run-on can work in practice and the key considerations for trustees and sponsors

Professional Pensions
clock 27 March 2025 • 1 min read
Trustpilot