Aberdeen City Council completes buy-in transaction with Rothesay
By IPE Staff2021-01-27T16:04:00+00:00 The Aberdeen City Council Transport Fund has completed a £230m (€256.8m) pensioner buy-in transaction with Rothesay, insuring the pension payments of 1,360 retired FirstGroup employees. According to Rothesay, the fund is only the second local government pension scheme (LGPS) to secure its pension obligations through an insurance policy. In 2012 a public sector scheme administered by West Midlands Pension Fund completed a £270m bulk annuity buy-in. The West Midlands Integrated Transport Authority (WMITA) pension fund – part of public transport ...
Source: ipe.com