Eversheds Sutherland Leads Paper Biz's £52M Pension Deal

By Irene Madongo (July 25, 2022, 3:31 PM BST) -- Pension Insurance Corp. said on Monday that it has completed a full buy-in of the retirement plan of the U.K. subsidiary of packaging giant Mondi, which will cover £52 million (£63 million) of liabilities.

Pension Insurance Corp., a specialist insurer of defined benefit pension funds, said Mondi Aberdeen Ltd.'s deal with the trustee of the Medway Packaging Pension Scheme will cover the liabilities of 425 pensioners and 150 deferred members of the savings plans. Deferred members are those who have delayed taking their pension.

Deepash Amin, an actuary at Pension Insurance Corp., said the deal has helped the "trustee significantly de-risk the scheme"...

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