@article {Coughlan33, author = {Guy Coughlan}, title = {Managing Longevity Risk in Defined Benefit Pension Plans}, volume = {2012}, number = {1}, pages = {33--38}, year = {2012}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Longevity risk{\textemdash}the risk of unanticipated increases in life expectancy{\textemdash}has only recently been recognized as a significant risk facing defined benefit pensions plans. With many pension plans now having executed longevity hedges of various types, managing this risk has moved onto the agenda of a growing number of plans in different countries, including the U.S., U.K., Canada, and the Netherlands. This article discusses how longevity risk impacts defined benefit pension plans and presents a framework for managing this risk. The framework views the plan{\textquoteright}s longevity exposure as an implicit leveraged investment in longevity risk that must be taken into account in the strategic asset allocation process.}, URL = {https://guides.pm-research.com/content/2012/1/33}, eprint = {https://guides.pm-research.com/content/2012/1/33.full.pdf}, journal = {Special Issues} }