Paternoster seals 10th deal in six months

The company, run by Mark Wood, former chief executive of Prudential, gained approval from the Financial Services Authority on 27 June this year, and was the first of a number of companies headed by ex-Prudential staff to be set up and designed specifically for the bulk annuity market. Now Paternoster has secured its tenth transaction after announcing the payment of pensions in respect of the Chartered Accountants’ Employees Superannuation Scheme will transfer to Paternoster in spring 2007. Under the new deal Paternoster, which will start paying its first pensions on 15 December to member...