Total scheme secures £1.6bn buy-in

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The Total UK Pension Plan has insured £1.6bn of pensioner liabilities with Pension Insurance Corporation (PIC) in the second largest UK bulk annuity transaction to date.

Advisers said the deal was evidence of a growing trend of blue chip firms offloading significant chunks of pension risk after ICI secured a £3.6bn buy-in earlier this year (PP Online, 26 March). ...

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