Scottish Widows completes first bulk annuity deal with £400m buy-in
The Wiggins Teape Pension Scheme has agreed a £400m pensioner buy-in with Scottish Widows in the insurer's first foray into the bulk annuity market.
The transaction insures all of the scheme's current pensioners and covers approximately two thirds of its total liabilities. It involved a premium payment process that allowed the scheme to lock down...
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