Smiths Group scheme completes £640m buy-in deal with Rothesay ipe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ipe.com Daily Mail and Mail on Sunday newspapers.
By IPE Staff2021-03-01T13:01:00+00:00
The West Ferry Printers Pension Scheme has completed a £120m (€138.8m) full buy-in transaction with Rothesay, a UK pensions insurance specialist.
The transaction follows an agreement made in December 2020 between Reach plc, the parent of the scheme’s sponsor, and the scheme’s trustee to fully fund the scheme as part of a business restructuring, it was announced.
Reach plc is the largest commercial national and regional news publisher in the UK.
During December, Rothesay worked with LCP to price the scheme benefits, thereby providing a transactable price for both Reach plc and the scheme to work with.