Risk Reduction

A ‘managed closure' of UK Coal following a £10m loan deal with the government will create ‘no further liabilities' for the Pension Protection Fund.

The Western United Group Pension Scheme has secured a £111m pensioner buy-in with Rothesay Life, a year and a half after completing a £115m deal with the same insurer.

Just Retirement has completed a £36.5m medically underwritten buy-in with a shipping firm and says it is on target to write £80m of bulk annuity business in the year to June.

The Pension Protection Fund (PPF) could end up facing a multi-million pound loss from UK Coal after the firm revealed it is in need of a bailout to avoid collapse.

LexisNexis has acquired tracing, data-cleansing and fraud prevention firm Tracesmart.

ITV has used its London Television Centre property to set up a 25-year partnership to fund its defined benefit (DB) scheme.

The Pension Protection Fund (PPF) has appointed Elaine Wiscombe to the newly-created role of head of operations ahead of plans to bring administration services in house later this year.

Partnership has agreed a £30m medically underwritten buy-in to insure the entire pensioner population of an unnamed manufacturer's scheme.

Pension Insurance Corporation (PIC) has appointed Elliot Varnell and William Coatesworth to its risk team.

The ICI Pension Fund trustees have entered into two buy-ins with Legal & General (L&G) and Prudential Retirement Income Services.