The First Quench Pension Fund has secured a £160m buy-in that will keep the 2,000-member scheme out of the Pension Protection Fund (PPF).
The transaction with Pension Insurance Corporation (PIC) guarantees members will receive benefits of at least PPF level. Trustees of the scheme said members would also see a "material uplift" on...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
