Latest Insights
Extreme Longevity: A science-based scenario analysis
20 July 2026. Guy Coughlan & Richard Faragher
What if the life expectancy of today's 65-year-olds increased by 10 years within a decade? Not gradually, but rapidly following a breakthrough in the science of ageing that enabled longer, healthier lives. Extreme longevity has become a credible systemic risk for pension plans, insurers, governments and the wider financial system. The risk is that financial markets rapidly reprice longevity expectations, significantly increasing the size of long-term liabilities and creating huge financial stress. While longer, healthier lives would ultimately be a tremendous benefit to society, the transition could be highly disruptive. This paper explains why recent advances in ageing science make extreme longevity a plausible near-term scenario, why it is a strategic risk management issue, and what organisations should do today to build resilience.
Featured Insights
The Aberdeen-Stagecoach pension transaction: Significance, precedents, regulation and future players
13 Feb 2026.
In a landmark 2025 transaction, Aberdeen Group PLC assumed sponsorship of the Stagecoach Group Pension Scheme, establishing a new non-insurance "endgame" pathway for UK DB pension plan. This paper reviews the historical precedents, the regulatory context and explains how this innovative arrangement delivers a "win-win" outcome for all stakeholders by aligning long-term risk management with enhanced member benefits and security.
Should our DB pension plan run-on? A decision-making framework
13 May 2025.
This paper presents a decision-making framework for trustees and sponsors considering run-on. The framework includes a holistic analysis of both pension plan and sponsor perspectives, combining Integrated Risk Management (IRM) with the principles of corporate finance. It advocates careful consideration of the basis for surplus sharing, particularly in the early stages of run-on, in which the expected value of the surplus to each stakeholder can differ significantly from the intended split.
Navigating Private Markets: Unlocking value for DB and DC pension plans and insurers
8 Oct 2024.
Private markets offer significant benefits to long-term investors, but also come with specific challenges that need careful consideration. This presentation reviews the key benefits, challenges and solutions to investing in various types of private assets for different types of long-term investors. It assesses the future outlook and practical considerations for would-be investors to ensure that they have the best opportunity to realise their full potential..
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