Auto Windscreens scheme completes £30m buyout

clock

Trustees of the Auto Windscreens Pension Scheme have secured a £30m buyout in the latest deal in a flurry of de-risking activity.

The transaction with Pension Insurance Corporation (PIC) covers 160 members of the scheme, which is a legacy arrangement, sponsored by the RAC. The announcement follows huge bulk annuity transac...

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 Risk Reduction

M&G announces third bulk annuity deal since re-entering market

M&G announces third bulk annuity deal since re-entering market

Insurer signed a £309m deal with unnamed scheme on 15 March

Jonathan Stapleton
clock 21 March 2024 • 1 min read
Morten Nilsson: Surplus extraction is a hefty prize but what's the price?

Morten Nilsson: Surplus extraction is a hefty prize but what's the price?

Brightwell CEO says trustees and sponsors must be clear on surplus flexibility rules

Morten Nilsson
clock 19 March 2024 • 4 min read
Bulk annuity insurers up their game on responsible investment

Bulk annuity insurers up their game on responsible investment

LCP also called for insurers to make further improvements

Jonathan Stapleton
clock 15 March 2024 • 2 min read
Trustpilot