The Pension Insurance Corporation has concluded an £83m full buy-in with The Royal Society of Chemistry Pension Scheme, securing the benefits of all 468 scheme members.
Consultancy Lane Clark & Peacock were the lead transaction adviser to the trustees, with Addleshaw Goddard and Osborne Clarke providing legal advice, and Mercer providing actuarial and investment advice.
The Royal Society of Chemistry works within the chemical sciences community, and is headquartered in London.
Andy Pateman, chair of trustees for The Royal Society of Chemistry Pension Scheme, says: “Right from our first conversations with PIC, we have been impressed by their approach to customer service – they have shown they are the right partner to support our ambitions in de-risking the Scheme. I want to thank my co-Trustees, especially our professional trustee Alison Bostock from Zedra, our many advisors and the PIC team for their focus, dedication and communication.
PIC were advised by CMS.