Deal is largest ever transaction from pension schemes to insurer
PPF+ deal secures the future of the scheme following the liquidation of its employer
Deal is the latest phase of the scheme’s de-risking journey
The Old British Steel Pension Scheme (OBSPS) has agreed a £2bn full buy-in with Pension Insurance Corporation (PIC), one step closer to exiting Pension Protection Fund (PPF) assessment.
Key players in the Dock Workers Pension Fund tell James Phillips the tale of getting to endgame ahead of plan
The trustees of the £3bn Merchant Navy Officers Pension Fund (MNOPF) have secured £1.6bn of members’ pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).
The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.
The trustees of the Dresdner Kleinwort Pension Plan have completed a full £1.2bn buy-in with Pension Insurance Corporation - covering the scheme's £900m final salary section as well as a £300m money purchase section.
Over two years since the collapse of the high street giant, BHS pension scheme members will be able to put their anxieties to rest thanks to a bulk annuity deal. James Phillips explores the detail.
Approximately 9,000 members who transferred to the BHS2 Pension Scheme last year have had their benefits fully insured through a buyout with Pension Insurance Corporation (PIC).