PIC insures £400m of liabilities in Co-op's third buy-in of 2020
The Co-operative Pension Scheme (Pace) has agreed its third buy-in this year, insuring £400m of liabilities in the Co-operative Bank section of the scheme with Pension Insurance Corporation (PIC).
The transaction covers the liabilities for around 2,000 members and follows a separate £1bn buy-in with PIC for the Co-operative section in February, as well as a £1bn buy-in with Aviva in January. The...
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