UK - The Sainsbury's pension scheme trustees have refuted claims of a fund buyout which appeared in the press following renewed interest in the supermarket group by Qatari investors.
John E Adshead, chairman of the Sainsbury's pension funds trustees stated: "The comments in the press are incorrect and no such decisions have been made.
Adshead continued: "The trustees are responsible for all investment decisions and the securing of any such insurance policies would be a decision for the trustees.
"The Trustees periodically review investment strategy for the pension schemes in consultation with Sainsbury's, but no decision to purchase such policies has been made."
The chairman said the trustees' priority was to protect members' interests and would continue to review investment strategy options and funding arrangements periodically to ensure benefits earned by members of the schemes were properly funded and secured.
Adshead concluded: "The trustees will keep you informed of any changes to the schemes."
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