PIC completes £590m buy-in with Wolseley Group scheme

James Phillips
clock • 2 min read

Pension Insurance Corporation (PIC) has agreed a £590m buy-in to insure all pensioner liabilities in the Wolseley Group Retirement Benefits Plan.

The FTSE 100 scheme, which is sponsored by a subsidiary of heating and plumbing product distributor Ferguson, closed to future accrual in 2013. As of 31 July 2016, it had an accounting deficit of £...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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