UK - In the first deal of its kind, the trustees of Friends Provident Pension Scheme (FPPS) have entered in to a bulk annuity 'buy in' with Norwich Union to de-risk its investments.
The £350m (US$679.5m) deal, a first for a FTSE 100 company, would involve Norwich Union taking on the liabilities of the FPPS' current pensioners to de-risk the scheme. Norwich Union and the FP...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date