House of Fraser scheme inks £600m buyout with PIC

PPF+ deal secures the future of the scheme following the liquidation of its employer

Martin Richmond
clock • 1 min read
House of Fraser scheme inks £600m buyout with PIC

The trustee of the House of Fraser Beatties & Jenners Pension Scheme has concluded a £600m buyout with Pension Insurance Corporation (PIC), covering a total of 3,850 deferred members and 5,050 pensioners.

The buyout comes after House of Fraser went into administration on 10 August 2018 which saw the scheme enter into Pension Protection Fund (PPF) assessment two weeks later. As a result of the ter...

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