The trustee of the IMI 2014 Deferred Fund has agreed a £175m partial buy-in with the Pension Insurance Corporation (PIC), covering liabilities for the remaining 1,378 uninsured scheme members, around 97 per cent of which are deferred members.
This is the sixth partial buy-in undertaken by the scheme, with PIC having insured approximately £1bn of liabilities sponsored by IMI plc since 2016, including a £250m partial buy-in in January 2022