The buy-in will protect the benefits of more than 9,000 members of the scheme
The bulk annuity deal insures the DB liabilities for around 3,700 members
In a trading update, the firm also heralded a comeback in workplace pensions
Transaction will protect the fund against rising costs and provide greater security
Reform will support higher bulk annuity volumes without price rises
The transaction with L&G covers the benefits of around 5,000 retirees
The transaction is a ‘key milestone’ towards the trustees’ plan to secure all benefits
The transaction with K3 Advisory covers seven pensioners and 12 deferred members
Market outlook remains ‘positive’ despite recent volatility
The firm has launched a series of videos to help trustees with the transition process