£390m bulk annuity deal secured with Outokumpu Stainless
We are pleased to announce that we have completed a £390m full scheme bulk annuity transaction with the AvestaPolarit Pension Scheme (the “Scheme”). This transaction completes the Scheme’s de-risking journey following an initial pensioner buy-in in 2020.
The Scheme is sponsored by Outokumpu Stainless Ltd, headquartered in Sheffield and a part of the Finland-based Outokumpu Group, a global leader in stainless steel.