Coats agrees one-lump sum payment in return for switching off deficit repair payments
WPC committee hearing and Coats scheme completes £350m buy-in transaction
The bulk annuity deal insures the DB liabilities for around 3,700 members
Coats Group has agreed with its UK pension trustees to defer the payment of its remaining deficit recovery contributions (DRCs) for 2020.
This week's top stories included exclusive coverage of The Pensions Regulator's plans to require schemes to use professional trustees.
Coats' pension scheme members are not entitled to annual increases of 5%, the High Court has ruled in a rare instance of a court overturning a decision of The Pensions Ombudsman.