Increasing the security of your benefits
The Trustee, with agreement of the Company (M&S plc), has made another significant investment with two UK-regulated insurance companies called a “buy-in” or “bulk-annuity policy” totalling approximately £1.4bn.
These investments are in addition to the previous buy-in policies purchased in early 2018.
Graham Oakley, Chair of the Trustee Board comments “We’re pleased to announce the purchase of two additional buy-in policies, which provide an important contribution to our ongoing objective of reducing risk to increase the security of all members’ pensions. A collaborative approach with the Company together with efficient and effective advice continues to deliver successful outcomes.”
Members benefits are not affected by this investment and all pensions will continue to be paid directly from the Scheme in line with the Rules. For more information, please read the Q&A for this announcement.