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PP Monthly Digest: December 2020

So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download Find whitepapers

Barclays Retirement Fund completes £5bn longevity swap with Reinsurance Group of America

Barclays Retirement Fund completes £5bn longevity swap with Reinsurance Group of America The Barclays Bank UK Retirement Fund has completed a £5bn longevity swap with Reinsurance Group of America (RGA). The scheme said the longevity swap helps protect it from the financial risk of an unexpected increase to life expectancy for current pensioners. It said this was another important step in the trustee s journey to reduce risks in the scheme, and makes the fund more secure for the benefit of all members - adding that members would see no changes to their benefits, which will continue to be paid directly by the scheme.

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