According to pension news today, the Pensions Trust has struck a fresh deal with Paternoster to secure pensions benefits from the multi-employer pension scheme .
The Trust provides multi-employer schemes for social, charitable, educational, voluntary and not-for-profit sectors.
The chief executive of the Pensions Trust, Stephen Nichols, reportedly commented: "As with many defined benefit schemes under pressure as a result of lower investment returns, improvements in longevity and the unintended consequences of legislation, the investment in an insurance policy with Paternoster, a regulated insurer, offers increased security for scheme members. The solution selected means that pensioner liabilities have been fully matched by policy. The way the pensions are administered are unchanged. Paternoster will make payments to The Pensions Trust each month so that the Trust continues to make pension payments as before."
Pensions Trust offloads pension benefits
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Pensions Trust offloads pension benefits
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