FSCS Pension Scheme secures £25m buy-in deal with PIC

Full-scheme transaction secures the benefits of 37 pensioners and 117 deferred members

Holly Roach
clock • 2 min read
FSCS Pension Scheme secures £25m buy-in deal with PIC

The Financial Services Compensation Scheme (FSCS) Pension Scheme has completed a £25m buy-in with Pension Insurance Corporation (PIC).

The full-scheme buy-in transaction – which required no additional contributions from the employer – secures the benefits of all 154 members, comprising of 37 pensioners and 117 deferred members. ...

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

Low & Bonar Group scheme completes £50m buy-in with Just Group

Low & Bonar Group scheme completes £50m buy-in with Just Group

Buy-in which secures benefits of around 1,700 remaining uninsured members

Jasmine Urquhart
clock 14 February 2025 • 1 min read
Utmost Life and Pensions inks £18m buy-in

Utmost Life and Pensions inks £18m buy-in

Deal is second transaction for fledgling bulk purchase annuity insurer

Jonathan Stapleton
clock 14 February 2025 • 1 min read
Finning Pension Scheme completes £250m buy-in with Standard Life

Finning Pension Scheme completes £250m buy-in with Standard Life

Full scheme bulk purchase annuity insures the benefits of around 2,170 members

Jonathan Stapleton
clock 12 February 2025 • 2 min read
Trustpilot