IMI secures £175m partial buy-in with PIC

Transaction secures the benefits for 1,378 members

Martin Richmond
clock • 2 min read
IMI secures £175m partial buy-in with PIC

The IMI 2014 Deferred Fund has secured a £175m partial buy-in with the Pension Insurance Corporation (PIC).

The bulk purchase annuity transaction for the fund, which is sponsored by engineering company IMI, covers the liabilities for 1,378 members of the fund, 97% of which are deferred members. The de...

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

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
Halma and Apollo schemes secure buy-in deals with Standard Life worth £250m

Halma and Apollo schemes secure buy-in deals with Standard Life worth £250m

Bulk purchase annuity worth £250m and secure the benefits of 2,200 scheme members

Holly Roach
clock 07 November 2024 • 2 min read
Trustpilot