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Linklaters advises MMC UK Pension Fund Trustee on £3.4bn longevity risk transfer

  Transaction represents the largest longevity hedge since 2014 covering around 7,500 pension members Structured as insurance contract with Guernsey based captive insurance cells Cost effective transfer of risk to Canada Life Re. and Prudential Insurance Company of America (PICA) Linklaters has provided the legal advise to the Trustee of the MMC UK Pension Fund on the largest longevity risk transfer for a UK pension fund since 2014. The longevity hedge has been completed and covers approximately £3.4bn of liabilities for around 7,500 pension members of the Fund. The transaction will provide long-term protection and income to the Fund in the event that the covered participants live longer than expected.      

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