Next Group scheme completes £510m buy-in with PIC

Bulk annuity transaction secures the benefits for 3,600 pensioners and deferred members

Martin Richmond
clock • 1 min read
Next Group scheme completes £510m buy-in with PIC

The 2013 Next Group Pension Plan has completed a full £510m buy-in with Pension Insurance Corporation (PIC).

The bulk annuity transaction represents the scheme's second buy-in, after it completed a £100m transaction with a separate insurer in 2018. The transactions have fully secured the benefits for over...

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

Martin Richmond
Author spotlight

Martin Richmond

Senior Correspondent at Professional Pensions

More on Risk Reduction

Vistry secures £155m multi-scheme buy-in deal with PIC

Vistry secures £155m multi-scheme buy-in deal with PIC

Transaction covers three final salary schemes, securing the benefits of 1,671 members

Holly Roach
clock 10 February 2026 • 1 min read
KLM UK Pension Scheme completes £240m buy-in with Rothesay

KLM UK Pension Scheme completes £240m buy-in with Rothesay

Transaction secures the benefits of the remaining 1,852 scheme members

Holly Roach
clock 10 February 2026 • 3 min read
What a £550bn BPA market really means

What a £550bn BPA market really means

Jon Yarker looks at what sustained high transaction volumes mean for the industry

Jon Yarker
clock 09 February 2026 • 7 min read
Trustpilot