The chancellor chose not to target workplace pensions, despite raising taxes by £40bn

Full scheme buy-in secures benefits for 215 pensioners and 55 deferred members

Full buy-in secures the benefits of around 4,000 scheme members

Transaction secures the benefits of around 19,000 pension scheme members

Move follows a ‘thorough and detailed’ bid process overseen by Vidett

Chancellor Rachel Reeves will deliver this parliament’s first Budget on Wednesday

Organisation says funding levels ‘show resilience’ but data management issues remain

The terms of the transaction were not disclosed

PLSA says schemes are prepared, but ‘many challenges’ lie ahead

This is £4.5bn more than the organisation’s estimate two years ago