First Quench trustees secure 'complex' buy-in to avoid PPF

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The First Quench Pension Fund has secured a £160m buy-in that will keep the 2,000-member scheme out of the Pension Protection Fund (PPF).

The transaction with Pension Insurance Corporation (PIC) guarantees members will receive benefits of at least PPF level. Trustees of the scheme said members would also see a "material uplift" on...

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