December 8, 2014 / 1:47 PM / 3 years ago

OECD backs longevity index to help manage risk of living longer

LONDON, Dec 8 (Reuters) - The Organisation of Economic Cooperation and Development said on Monday it wanted to see stronger rules around management of the risk of people living longer, and backed the creation of an index to better price it.

In its OECD Pensions Outlook 2014, the Paris-based group said issuing longevity bonds and publishing an index to serve as the benchmark for the pricing and risk assessment of hedges would support the development of longevity instruments. (Reporting by Simon Jessop; editing by Matt Scuffham)

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