Telent moves to shore up scheme with 15-year funding plan - UPDATED

Jonathan Stapleton
clock

Telent - the former Marconi telecoms group owned by Pension Corporation - has agreed a 15-year funding plan with trustees in a bid to shore up its pension scheme.

In a statement, Telent said it would contribute a minimum of £4m a year into £2.5bn GEC 1972 (Pension) Plan and progressively pay £500m from the escrow account, established following the firm's tak...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Bulk Annuities

Partner Insight: A bird's eye view of the landmark year of 2023

Partner Insight: A bird's eye view of the landmark year of 2023

With the dust beginning to settle on 2023, and the final deals of the year being hurriedly squeezed into insurer targets, it seems only right to reflect on what has been another incredible year for the risk settlement market.

Martin Bird, Senior Partner and Head of Risk Settlement, Aon
clock 18 December 2023 • 6 min read
Partner Insight: Large scheme transactions blaze a trail in 2023 - and beyond

Partner Insight: Large scheme transactions blaze a trail in 2023 - and beyond

Charlotte Quarmby, Partner, Aon
clock 23 November 2023 • 5 min read
Partner Insight: The UK Bulk Annuity Market - The Insurers' View

Partner Insight: The UK Bulk Annuity Market - The Insurers' View

Leah Evans, Partner, Aon
clock 16 November 2023 • 6 min read
Trustpilot