Chemring Scheme completes £65m buy-in with PIC

Bulk annuity transaction secures benefits of 485 pensioners and 328 deferred members

Martin Richmond
clock • 2 min read
Chemring Scheme completes £65m buy-in with PIC

The Chemring Group Staff Pension Scheme has completed a £65m full buy-in with Pension Insurance Corporation (PIC).

The risk reduction transaction for the scheme, which is sponsored by defence firm Chemring Group, has fully secured the benefits for all of the scheme's members, which is comprised of 485 pensioner...

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