EMI scheme agrees record-breaking £1.5bn buyout
Citi has secured a £1.5bn buyout for its EMI Group Pension Fund in the biggest bulk annuity deal concluded in the UK so far.
The transaction with Pension Corporation (PIC) covers all risk associated with the liabilities of the scheme's 20,000 members. Citigroup became the sponsoring employer of the scheme when it sold two...
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