BTPS agrees £5bn longevity swap with RGA

Deal protects scheme from cost of unexpected increases in life expectancy of members

Holly Roach
clock • 1 min read
BTPS trustee chair Otto Thoresen
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BTPS trustee chair Otto Thoresen

The BT Pension Scheme (BTPS) has completed a £5bn longevity swap with Reinsurance Group of America (RGA).

The scheme said the deal provides protection against the cost of unexpected increases in members' life expectancy. The longevity insurance and reinsurance arrangement with the scheme - which has...

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Holly Roach
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Holly Roach

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