T&N secures £1.1bn buy-in after sponsor insolvency

clock

The T&N Retirement Benefit Scheme has agreed a £1.1bn buy-in after its funding level was found to exceed the threshold for Pension Protection Fund entry.

The trustee for the scheme - which entered the PPF assessment period in 2006 after the insolvency of its sponsoring employer in 2001 - said the agreement would guarantee at least PPF level benefits...

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 Bulk Annuities

Partner Insight: A bird's eye view of the landmark year of 2023

Partner Insight: A bird's eye view of the landmark year of 2023

With the dust beginning to settle on 2023, and the final deals of the year being hurriedly squeezed into insurer targets, it seems only right to reflect on what has been another incredible year for the risk settlement market.

Martin Bird, Senior Partner and Head of Risk Settlement, Aon
clock 18 December 2023 • 6 min read
Partner Insight: Large scheme transactions blaze a trail in 2023 - and beyond

Partner Insight: Large scheme transactions blaze a trail in 2023 - and beyond

Charlotte Quarmby, Partner, Aon
clock 23 November 2023 • 5 min read
Partner Insight: The UK Bulk Annuity Market - The Insurers' View

Partner Insight: The UK Bulk Annuity Market - The Insurers' View

Leah Evans, Partner, Aon
clock 16 November 2023 • 6 min read
Trustpilot