Medway Packaging scheme secures £52m PIC buy-in

Buy-in secures liabilities for 425 pensioners and 150 deferred members

Martin Richmond
clock • 1 min read
Medway Packaging scheme secures £52m PIC buy-in

The Medway Packaging Pension Scheme has announced that it has secured a £52m buy-in with Pension Insurance Corporation (PIC).

The deal covers £52m of liabilities and will secure the benefits of 425 members, alongside a further 150 deferred members. Medway Packaging Pension Scheme chair of the trustee James Paterson sai...

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

Utmost Life and Pensions enters BPA market with £20m buy-in deal

Utmost Life and Pensions enters BPA market with £20m buy-in deal

Utmost’s ‘thoughtful entry’ into the BPA market ensured a ‘streamlined process’

Holly Roach
clock 13 November 2024 • 1 min read
Mechanical and electrical scheme powers £2m full buy-in with Legal & General

Mechanical and electrical scheme powers £2m full buy-in with Legal & General

Bulk annuity transaction secures benefits of 16 pensioners and three deferred members

Martin Richmond
clock 08 November 2024 • 2 min read
FTSE 100 surpluses increased to £65bn in October

FTSE 100 surpluses increased to £65bn in October

LCP’s Pensions Explorer notes impact of Budget on sponsor costs and pension decision-making

Jasmine Urquhart
clock 08 November 2024 • 1 min read
Trustpilot