£1.2bn buy-in secured for The Co-operative Bank
We are pleased to announce that we have completed a £1.2bn full scheme buy-in with The Bank Section of the Co-operative Pension Scheme, protecting the pension benefits of more than 9000 members. The Section is sponsored by The Co-operative Bank, the Manchester-headquartered retail and SME bank.
The buy-in is Rothesay’s eighth transaction of 2022, and we are also exclusive and in execution on more than £5bn of new business with other pension schemes.