Co-op enters £425m buy-in in PIC's first deal of 2019

Kim Kaveh
clock • 1 min read

The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.

The deal - completed earlier this week - accounts for just over a third (35%) of the scheme's liabilities, which were £1.2bn as at 31 March 2017, according to its most recent data. The scheme had £...

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