UK Pensions - Surplus fund gives Rank pension windfall after buyout


Goldman Sachs' wholly-owned bulk purchase annuity subsidiary, Rothesay Life, secured its first transaction by using the surplus on the £700 million Rank Group pension scheme to provide a £20 million windfall to the gaming company and an undisclosed amount to pension scheme members.

The buyout was the outcome of a long de-risking process, according to Sam Wren, director of tax, treasury and pensions at Rank. "With a turnover of £500 million, the company was too small to support such a large scheme

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here