House Of Fraser Gets Court OK For Bulk Pension Buyout
By Lucia Osborne-Crowley (January 13, 2022, 6:19 PM GMT) -- A court approved a bid on Thursday from the trustee of department store chain House of Fraser's pension fund to proceed with a bulk annuity buyout that it says will protect members' retirement pots while the retailer's pension fund sits in deficit.
High Court Chief Master Karen Shuman gave the green light to an application from the trustee of the retail brand to enter into a bulk annuity deal that would give members of the fund a fixed guaranteed income. House of Fraser fell into administration in 2018 and was bought out by billionaire Mike Ashley.
The trustees asked the court for permission...
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