Morris Ashby cuts tie to PPF after £38m buyout deal with PIC

Jenna Towler
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Trustees of the Morris Ashby Limited Pension Scheme have completed a £38m buyout deal with Pension Insurance Corporation removing its liabilities from the Pension Protection Fund.

The scheme, which was being assessed for PPF entry, secured the benefits of its 480 members with PIC at PPF levels. It will now cease to be involved with the PPF. The pension fund's former sponsor,...

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