MNOPF finalises £1.3bn buyout

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The Merchant Navy Officers Pension Fund (MNOPF) has tied up a £1.3bn buyout of its old section that includes a one-off discretionary increase for all members.

The deal consolidates a series of earlier buy-ins and means 40,000 members will receive their pensions through individual policies with either Rothesay Life or Legal and General (L&G). In an unu...

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