Longevity swaps

UK schemes have increased longevity assumptions by six months in the last three years, according to research from Mercer.

PGL Pension Scheme has completed a £900m longevity swap, using an insurance company owned by its sponsoring employer to access the reinsurance market.

Rothesay Life has secured a longevity swap with US reinsurer Prudential to cover the members of 93 schemes it has insured.

Mercer has teamed up with Zurich to launch a longevity hedging product for smaller and mid-sized defined benefit pension schemes.

Jack Jones looks at the implications of a record-breaking exercise

Scottish Power's £2bn longevity swap is the latest in a string of transactions. But where does it feature on the top ten?

The BT Pension Scheme (BTPS) has entered into a £16bn longevity swap to hedge more than a quarter of its exposure to longevity risk.

Royal London has agreed a longevity swap with RGA International to cover the risk associated with £1bn of pension liabilities.

The Merchant Navy Officers Pension Fund (MNOPF) is winding up its investment committee as part of an overhaul of its governance structure.

ITV has used its London Television Centre property to set up a 25-year partnership to fund its defined benefit (DB) scheme.