PIC invests in CofE pensions board's CPI bonds

Stephanie Baxter
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Pensions Insurance Corporation (PIC) has invested in £70m of Consumer Prices Index (CPI) linked secured debt issued by the Church of England Pensions Board (CEPB).

The bulk annuity provider is the sole investor in the high-grade bonds which give the board long-term finance to fund retirement housing for its clergymen. The bonds were issued through a specia...

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