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...

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