Buyout saves engineering scheme from PPF after severing ties with sponsor

clock

The SR Technics UK scheme has avoided entering the Pension Protection Fund after it was cut adrift of its sponsoring employer as part of a corporate restructuring.

The 2,500-member scheme had been in PPF assessment since a shell company set up by the multinational aircraft maintenance firm to take on its pension deficit was wound up. The deficit was transf...

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 Risk Reduction

Wednesbury Pension Scheme completes £43m buy-in with Just

Wednesbury Pension Scheme completes £43m buy-in with Just

Transaction secures the benefits of all 384 scheme members, including 321 pensioner members

Jasmine Urquhart
clock 26 November 2024 • 1 min read
M&G completes £500m BPA deal that shares value with corporate sponsor

M&G completes £500m BPA deal that shares value with corporate sponsor

Transaction secures the benefits for around 3,200 pensioner and deferred members

Martin Richmond
clock 25 November 2024 • 3 min read
Aviva completes £1.7bn buy-in with National Grid scheme

Aviva completes £1.7bn buy-in with National Grid scheme

The buy-in insures the benefits for 5,800 pensioner members of the utility firm

Jonathan Stapleton
clock 25 November 2024 • 2 min read
Trustpilot