Trustees of the Thorn pension fund have completed a landmark £1bn buyout transaction with Pension Insurance Corporation.
The move will secure the full benefits for more than 15,000 fund members of the final salary pension scheme. Member will also receive an uplift to their existing benefits once the wind-up of the fund is completed. Thorn trustee board chairman and Independent Trustee Services managing director Chris Martin said: "Working with our independent advisers, we invested a great deal of time in assessing the different options for managing the risks within the fund. "We believe that the company's proposal and the buyout with PIC is an excellent outcome for the fund's members who stand to gain fro...
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