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The Post Office has completed a £450 million bulk annuity buy-in transaction for its section of the Royal Mail Pension Plan.
The buy-in transaction, completed with Rothesay Life, will cover the scheme’s deferred members and includes all benefits accrued since the Royal Mail Pension Plan started in 2012.
The pension scheme’s trustees were advised by law firms ARC Pensions Law and Sackers, as well as business management consultancy Lane Clark and Peacock (LCP).
Anna Rogers, senior partner at ARC Pensions Law, said: “We were proud to work with the trustees alongside their ongoing advisers on this transaction. The goal was to reduce the friction between the real world of pensions admin and the ivory tower of legal documentation.
“There are constructive things that can be done and a fresh pair of eyes can bring a new perspective. When you’re selling anything it helps if you present it well to the market and pension liabilities are no different.”
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The Post Office completes 450m pensions buy-in
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The Post Office completes 450m pensions buy-in
I Wrote-During Covid-Which is still relevant now
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.