Our fourth annual longevity report aims to help trustees and sponsors of defined benefit schemes understand a key risk: how long members of their pension scheme are going to live.
This is becoming more important as DB pension schemes de-risk their investment strategies, and longevity becomes one of the key remaining uncertainties.
Besides the risk, to financially manage and report on their schemes, it is necessary for trustees and sponsors to make subjective assumptions for the future longevity and the mortality rates of their pension scheme members.
These are challenging times for setting a longevity assumption. The devastating impact of the Covid-19 pandemic has introduced more focus on longevity assumptions, at a time when there is undoubtedly more uncertainty on the trend in the medium to long term.
In this report we summarise recent trends in mortality and how they might affect pension schemes, and take a look at what might happen in the future.
- Key actions to take now to help you understand how your membership will be affected by Covid-19
- How memberships of schemes have fared during the pandemic compared to the general population
- The indirect and potential lasting impacts of the pandemic, including the ways in which excess deaths relating to chronic diseases have also increased
- Different potential future scenarios to allow you to understand the liability impact of different outcomes on your scheme
- The key drivers which could affect life expectancy in the future
How we can help
We provide individual and high quality actuarial advice, taking a collaborative approach between trustees, employer and advisers, to ensure a focus on good member outcomes.
We are market leaders at each stage of de-risking, including planning, investment strategy, transactional services and wind up.
We help sponsors of pension schemes understand and manage the costs and risks associated with supporting their current and legacy pension schemes as well as other employee benefits.
We help trustees understand and monitor the employer covenant.
We help you get your investment strategy right to ensure good member outcomes in your DB and DC schemes.
We provide a bespoke, high quality pensions administration service.
We help pension scheme trustees and sponsors to determine the ultimate destination for their scheme and help them put together a plan to get there, including how to effectively manage the risks they face along the way.
We help trustees achieve their strategic goals, with solution-led, appropriate advice.