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
Image:

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...

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

Coats UK scheme secures £1.3bn buy-in deal with PIC

Coats UK scheme secures £1.3bn buy-in deal with PIC

Scheme’s second buy-in transaction secures the benefits of 18,042 members

Holly Roach
clock 04 September 2024 • 2 min read
Updated: The biggest buy-ins and buyouts since 2007

Updated: The biggest buy-ins and buyouts since 2007

Professional Pensions rounds up the largest block transfers of liabilities to insurers

Professional Pensions
clock 04 September 2024 • 1 min read
Scottish Milk scheme completes £42m full buy-in with Just Group

Scottish Milk scheme completes £42m full buy-in with Just Group

Transaction secures the benefits of 292 pensioners and 160 deferred members

Holly Roach
clock 27 August 2024 • 2 min read
Trustpilot