Post Office has agreed a £450m bulk annuity for its section of the Royal Mail Pension Plan, insuring all 5,700 members with Rothesay Life.
The deal, transacted in Q3 last year, largely covers deferred members and includes all benefits accrued since 2012, when pre-privatisation benefits were taken over by the government. The scheme was...
Scottish Widows completed five bulk annuity transactions in 2019, with liabilities insured exceeding £2bn.
The Co-operative Pension Scheme (Pace) has agreed a £1bn buy-in with Pension Insurance Corporation (PIC), insuring benefits for around 7,000 members.
There have now been a total of over 50 buy-in and buyout deals of over £500m announced since 2007. The full list is as follows...
Allied Irish Bank (AIB) has secured an £850m buy-in for its UK pension scheme with Legal & General (L&G).
The trustees of the £3bn Merchant Navy Officers Pension Fund (MNOPF) have secured £1.6bn of members’ pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).