The buy-in will protect the benefits of more than 9,000 members of the scheme
This week’s top stories included the Smurfit Kappa UK Pension Fund’s completion of a £1.2bn fiduciary and liability-driven investment deal with River and Mercantile, and figures showing pension transfer activity has dropped to its lowest level since 2014....
The Co-operative Pension Scheme (Pace) has agreed its third buy-in this year, insuring £400m of liabilities in the Co-operative Bank section of the scheme with Pension Insurance Corporation (PIC).
Trustees of the £10bn Co-operative pension fund are demanding £50m to split the scheme and enable a deal to rescue the struggling bank, according to reports.
Co-operative Bank has been given the right to a refund of surplus in the Britannia Pension Scheme, after consulting the trustee and lawyers.