LONDON (ShareCast) - (Sharecast News) - WH Smith's pension fund on Monday said it had insured the benefits of all its pension members in a deal with Standard Life.
The bulk purchase annuity transaction - completed earlier this month - secures the benefits of around 13,000 members of the trust, the retailer said in a statement.

WH Smith said the insurance policy was purchased using most of the existing assets held within the Trust, without the need for the company to make any additional contributions.

The buy-in removes longevity and other demographic risks as well as investment, interest rate and inflation risks. Following the deal, WH Smith will no longer be required to make any future contributions into the Trust regarding defined benefit liabilities.



Reporting by Frank Prenesti at Sharecast.com

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