Royal Berkshire Pension Fund signs first public sector longevity hedge
Following months of industry speculation, the £1.2 billion Royal County of Berkshire Pension Fund has confirmed it has agreed to sign the first longevity hedge for a public sector pension scheme.
In an exclusive interview with Life & Pensions, Nick Greenwood, pension manager for the Berkshire fund, said the scheme has agreed the pricing for the deal, which will cover 43% of its liabilities and all of its 10,400 members in payment. And, subject to trustees agreeing on terms and conditions, it
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