Pension risk transfer premiums rise for third month in a row in November − Milliman study

U.S. pension risk transfer premiums among the most competitive bidding processes increased for a third month in a row in November to remain above 100%, a study by actuarial and consulting firm Milliman showed.

According to a report of the Milliman Pension Buyout index, the estimated average premium among the most competitive rates was 101% as of Nov. 30, up from 100.8% as of Oct. 31. The estimated average premium among those most competitive bidding processes had hit above 100% at the end of September when it was 100.1%, a considerable increase from the estimated average premium of 96.9% as of Aug. 31.

Also during November, the average annuity purchase cost across all insurers increased to 103.6% from 102.9% as of Oct. 31.

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