Smiths Group agrees £130m buy-in with PIC

James Phillips
clock • 2 min read

Smiths Group's TI Group Pension Scheme has insured £130m of pensioner liabilities with Pension Insurance Corporation (PIC), bringing the scheme's total insured liabilities to £1bn.

The deal is the second to be completed with PIC, following a £170m buy-in in 2013, and covers approximately 1,500 legacy benefits for pensioners and their dependents. The final salary scheme, wh...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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