Siemens completes £1.3bn pensioner buy-in

Kim Kaveh
clock • 1 min read

The trustees of the Siemens defined Benefit (DB) scheme have completed a buy-in with Pension Insurance Corporation (PIC), covering around 6000 members.

The full buy-in - which was completed last month - covers £1.3bn of liabilities. It is the third bulk annuity arrangement between the insurer and a Siemens sponsored DB scheme. The first buy-in ...

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

Kim Kaveh
Author spotlight

Kim Kaveh

Professional Pensions journalist from 2017-2020

View profile
More from Kim Kaveh

Industry split on combining GMP rectification and equalisation

USS gives DC master trust members access to private markets investments

More on Risk Reduction

Strategic run-on market set for influx of new entrants this year, EY report says
Risk Reduction

Strategic run-on market set for influx of new entrants this year, EY report says

Attractiveness of strategic run-on to grow as concept gains traction

Jasmine Urquhart
Jasmine Urquhart
clock 17 April 2025 • 3 min read
The real question trustees should be asking – why?
Risk Reduction

The real question trustees should be asking – why?

Antony Miller asks why innovation in DB consolidation is moving at such a snail’s pace

Antony Miller
clock 16 April 2025 • 3 min read
South East Water Pension Scheme secures £120m buy-in deal with Just Group
Risk Reduction

South East Water Pension Scheme secures £120m buy-in deal with Just Group

Second transaction with the scheme means all member benefits are now insured

Holly Roach
Holly Roach
clock 14 April 2025 • 2 min read
Trustpilot