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.
So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download
In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download
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