Birmingham-based confectioner Cadbury has become the latest firm to de-risk its pension scheme, having signed a £500 million buy-in deal with Pension Insurance Corporation (PIC), protecting about a fifth of its £2.5 billion liabilities.
Speaking to Life & Pensions, David Collinson, a partner with PIC who advised on the deal, said it was centred on a tranche of about a third of the scheme’s 30,000 members and had not involved other de-risking options, such as enhanced transfer value (ETV)
- Brexit novations ‘on hold’ to gain reg relief
- Banks hope final FRTB rules will ease NMRF burden
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- Functional programming reaches for stardom in finance
- Mifid data publishers drag feet on Esma guidelines