On the go: The £1.5bn EDS 1994 Pension Scheme has secured a £1.1bn full buy-in with Pension Insurance Corporation.
The deal covers all of the scheme’s 3,000 pensioners and 2,300 deferred pensioners, and has been concluded in anticipation of a full buyout.
EDS 1994 Pension Scheme trustee chair Ian Wilson noted that the transaction is “a great outcome for our members”.
“We are pleased to partner with PIC on this transaction, and are confident that their proven member experience and strong financial credentials will ensure members’ benefits are secure,” he said.
The scheme’s investment adviser Mercer and legal adviser Sackers structured and led the transaction. The scheme sponsor was advised by Mercer and Eversheds, and PIC was advised by Addleshaw Goddard.
This article originally appeared on MandateWire.com
