Longevity

Life expectancy continues to improve according to data released by the Office for National Statistics.

Murray Blake has been appointed a consultant by LCP to work in its pension de-risking section, taking the practice to over 30 partners and consultants.

Top stories on the website this week include a dramatic increase in mortality rates, an overhaul of the FCA's at retirement rules, and a dire warning about the UK pension system.

Increases in life expectancy have slowed significantly over the last four years according to the Institute and Faculty of Actuaries' Continuous Mortality Investigation (CMI).

Prudential UK and Europe has appointed Michael Abramson to lead its bulk annuity business after Andy Reed decided to step down from the role.

PP talks to Amy Kessler about the booming longevity risk market

The state pension age is set to rise much more quickly than anticipated warns Malcolm McLean, as statistics show life expectancy has increased rapidly over the last century.

Rising longevity poses a much greater threat to companies with defined benefit (DB) pension schemes than low interest rates, Fitch Ratings has warned.

Legal and General (L&G) has reinsured longevity risk relating to $2.9bn (£1.9bn) of pension liabilities in its bulk annuity business through Prudential Retirement Insurance and Annuity Company.

The £900bn deficit in UK defined benefit (DB) schemes would require more than a year's salary from every person in the UK to fix, according to Hymans Robertson.