George Hammond derisks scheme after buyout price fall

clock

Trustees of the George Hammond Retirement Benefits Plan have completed a £19m buyout of the scheme following a significant fall in the cost of insurance policies.

The deal was concluded with Pension Insurance Corporation and marks the end of a long-running risk reduction strategy by the trustees of the privately owned shipping group's scheme. PIC said pre...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • 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

Join now

 

Already a Professional Pensions
member?

Login

More on DB Buyouts

K3 Advisory completes £53m buyout with unnamed scheme

K3 Advisory completes £53m buyout with unnamed scheme

Deal covers benefits of 235 pensioners 163 deferred members

Jasmine Urquhart
clock 16 February 2023 • 1 min read

Solvency II drives record buy-in and buyout volumes in Q4

The bulk annuity market had a record final quarter in 2015 as buy-in and buyout deals totalled £5.4bn, according to LCP.

Kristian Brunt-Seymour
clock 17 March 2016 • 2 min read

Five stories you might have missed: TPR's integrated risk management; JLT hires Boniface; barriers to buyout

The biggest stories on PP this week include AMNT launching its red lines initiative to give trustees more voting power and HSBC slashing 'pension' payouts for top executives. Here are the top five

PP Online
clock 11 December 2015 •
Trustpilot