Trustees of the Philips Pension Fund have exchanged holdings of gilts and cash for a buy-in covering £484m of the 33,000-member scheme's liabilities.
The deal with Rothesay Life covers a subset of the scheme's 20,000 pensioner membership, accounting for approximately one seventh of its total liabilities. It is focused on the scheme's younger ...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date