BPA transaction secures the benefits of around 700 scheme members
Bulk purchase annuity secures the benefits for savers in the Whitbread Group Pension Fund
The Whitbread Group Pension Fund has been handed a one-off contribution of £380m following Whitbread's sale of Costa to The Coca-Cola Company.
Premier Inn owner Whitbread has cut its defined benefit (DB) pension deficit to £162m ahead of its agreed £3.9bn sale of Costa Coffee to Coca-Cola.
Whitbread has pledged to use proceeds from its proposed £3.9bn sale of Costa Coffee to Coca-Cola to make an additional contribution to its defined benefit (DB) scheme.
This week's top stories include experts warning that trustees must act now on common and conditional data as the deadline approaches and calls for partial transfers DB transfers to be a right. Here are the top five.
Lesley Williams will retire from her role as Whitbread's group pensions director at the start of 2018 after 11 years in the role.
The pensions deficit at Whitbread has increased by 40% from March to September according to its latest half-year results.
Whitbread Group has chosen Aries Insight's pensions service to help it stay on top of ever changing and complex regulation.
Concerns have been raised about making members more aware of risks to their defined benefit (DB) pensions, for fear of leading to panic and knee-jerk reactions.