De Beers scheme completes full £870m buy-in with PIC

Transaction fully secures the benefits for over 1,900 pensioners and deferred members

Martin Richmond
clock • 2 min read
De Beers scheme completes full £870m buy-in with PIC

The De Beers UK Pension Scheme has completed an £870m full buy-in with Pension Insurance Corporation (PIC).

The bulk annuity transaction for the scheme, which is sponsored by diamond company De Beers UK, has fully secured the benefits for 1,464 pensioners and 473 deferred members. Hymans Robertson act...

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

Join now

 

Already a Professional Pensions
member?

Login

More on Risk Reduction

Bulk annuity volumes – 'the stage is set' to reach 2023 records

Bulk annuity volumes – 'the stage is set' to reach 2023 records

Total volumes for the year should comfortably exceed £40bn

Rosie Fantom and Andy Smith
clock 18 July 2024 • 6 min read
Haberdashers scheme sews up £3m buy-in deal with Just Group

Haberdashers scheme sews up £3m buy-in deal with Just Group

Bulk annuity transaction secures the benefits for scheme whose sponsor was founded in 1448

Martin Richmond
clock 12 July 2024 • 2 min read
De-risking funded reinsurance arrangements in the UK life insurance sector

De-risking funded reinsurance arrangements in the UK life insurance sector

Francis Richard Pereira assesses how changes to regulation will impact the PRT market

Francis Richard Pereira
clock 10 July 2024 • 7 min read
Trustpilot