Royal Society of Chemistry scheme completes £83m full buy-in with PIC
The transaction secures the benefits of all 468 members of the scheme.
The Royal Society of Chemistry Pension Scheme has completed an £83m full buy-in with Pension Insurance Corporation, securing the benefits of all 468 members. The transaction was announced on 11 August.
As a buy-in, the policy is held as an asset of the scheme rather than transferring benefits to the insurer. The trustee remains responsible for paying members, with the policy matching the liabilities.
Lane Clark & Peacock led the transaction for the trustee. Mercer advised on actuarial and investment matters, Addleshaw Goddard and Osborne Clarke advised the trustee on legal matters, and CMS advised PIC.
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