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ARTICLE · 20 FEBRUARY 2024

Pension Funds: Hedging Longevity Risk

Carey Olsen
Carey Olsen
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Carey Olsen

Carey Olsen

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Recent hikes in interest rates have led to huge increases in the funding levels of many UK defined benefit pension schemes (DB Schemes). Now they are in surplus, many DB Schemes...

GuernseyFinance and Banking
Christopher Anderson
Christopher Anderson
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Bulk Annuities Market

Recent hikes in interest rates have led to huge increases in the funding levels of many UK defined benefit pension schemes (DB Schemes). Now they are in surplus, many DB Schemes are considering a bulk annuity transaction or "buy-in". As a result, the bulk annuity market is booming. According to a new forecast reported by Ian Smith and Josephine Cumbo in the Financial Times, UK businesses are expected to offload a record £60bn of pension obligations to insurers this year. Willis also predicts £20bn of longevity swaps during 2024. Guernsey has played a prominent role in this area over the last 12 years and is well placed to benefit from the current "turbocharged" market.

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