10 February 2020
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Murphy: This buy-in enables us to more effectively manage the risks faced by the fund as a whole
The trustees of the £3bn Merchant Navy Officers Pension Fund (MNOPF) have secured £1.6bn of members’ pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).
The transaction includes members covered by MNOPF's longevity swap that was completed in 2014 - a captive deal that was structured as an agreement between the trustee and MNOPF IC, a specially established...
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