AvestaPolarit scheme agrees £390m buy-in with Rothesay

Benefits for around 1,000 members are expected to move to buyout by 2024

James Phillips
clock • 2 min read
AvestaPolarit scheme agrees £390m buy-in with Rothesay

Rothesay has agreed a £390m bulk annuity transaction covering the benefits of nearly 1,000 scheme members in the AvestaPolarit Pension Scheme.

Sponsored by Finnish stainless steel producer Outokumpu Stainless, the scheme agreed the buy-in this month ahead of a potential buyout in 2023/24. The liabilities of 436 pensioners and 500 deferred...

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