Standard Life, part of Phoenix Group, has concluded a £150M Bulk Purchase Annuity ("BPA") transaction covering 1,300 members of the Sappi UK Pension Scheme ("the Scheme").

As a full scheme buy-in, the transaction has enabled the Trustee and Company to significantly reduce the risks associated with its pension scheme liabilities by securing full benefits for the Scheme's members.

Read the full announcement

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Phoenix Group Holdings plc published this content on 21 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 July 2022 08:53:04 UTC.