Portfolio duration using swaps

I’m struggling to get my head around this:
If you manage a defined benefit pension plan and you expect interest rates to increase and hence the PBO to also decrease, why would you enter into a pay floating receive fixed swap to increase portfolio duration. Surely if rates are increasing you want to receive floating to earn higher returns?

Given only those facts, it sounds pretty stupid.

However, you may have a mandate that the money duration of the plan assets has to equal (or, at least, be pretty darned close to) the money duration of the liabilities.

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Thank you for taking the time to respond - it is really much appreciated. If you want I can send you the complete question…I just cannot get my head around why you would not go receive floating if rates are expected to rise.

Please do.