PIC and IMI agree fifth buy-in in £250m deal

Around 1,200 members were covered by the deal, with 80% of scheme now insured

James Phillips
clock • 2 min read
PIC and IMI agree fifth buy-in in £250m deal

The IMI 2014 Deferred Fund has agreed a £250m partial buy-in with Pension Insurance Corporation (PIC), covering the benefits of 1,200 members.

The deal is the fifth between the scheme and the insurer, taking the total amount of insured benefits to around £800m since 2016. The majority of the membership covered by the deal were deferred...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now


Already a Professional Pensions member?


James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Risk Management

LCP partner Charlie Finch

Act now to lock in de-risking terms, trustees urged

Schemes told to address data, governance, and investment strategy to secure de-risking terms

Nick Reeve
clock 05 October 2022 • 2 min read
Lisa Varley, Senior consultant at Aon

Industry Voice: Doing your homework on bulk annuity providers — ESG is key

Lisa Varley Senior consultant at Aon
clock 03 August 2022 • 4 min read
Hannah Brinton, Aon

Industry Voice: How to take just one bite at the buyout cherry

Hannah Brinton, Associate Partner at Aon
clock 28 July 2022 • 4 min read