Paternoster takes over £800m of liabilities from P&O

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DUBAI PORTS World - the owner of the P&O shipping group -has appointed Paternoster to provide the future pensions for 11,000 retired members of the P&O scheme.

The deal – which is understood to be worth around £800m and one of the biggest transfers of UK pensions so far – allows DP World to keep overall control of the scheme by transferring an £800m bond ...

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