Hargreaves makes 'considerable headway' towards DB scheme buyout

Cash cost to buy out the scheme will be ‘no more than £9m’ with payment expected in H1

Holly Roach
clock • 1 min read
Hargreaves' results reveal dividend increase as scheme progresses towards buyout
Image:

Hargreaves' results reveal dividend increase as scheme progresses towards buyout

Hargreaves has made “considerable headway” on its journey to buy out the group’s defined benefit (DB) pension scheme.

The firm's interim results revealed the cash cost to buy out the scheme will be no more than £9m, with this payment expected in the first half of 2024 using existing cash reserves. The results a...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Industry stresses DB surplus release decisions must be scheme specific

Industry stresses DB surplus release decisions must be scheme specific

Firms say low dependency should not trigger automatic release of surplus funds as lawyers raise concerns over age restrictions

Alex Levy
clock 03 September 2026 • 4 min read
Aon launches run-on solution aimed at smaller DB schemes

Aon launches run-on solution aimed at smaller DB schemes

Firm claims economies of scale will make run-on strategies more realistic for schemes

Alex Levy
clock 03 September 2026 • 2 min read
DB scheme trustees report continued rise in costs

DB scheme trustees report continued rise in costs

TPT research finds larger schemes reported the biggest hikes

Alex Levy
clock 02 September 2026 • 2 min read
Trustpilot