M&B Pension Plan secures £1.2bn buy-in policy

The Trustee is pleased to confirm that the Plan has entered a full buy-in policy with Standard Life. This policy covers all the future benefit payments for all members with Defined Benefits within the Plan, including pensions not yet in payment, and will be held as an investment in the Plan. 

The Trustee is confident that this development is a significant positive step towards ensuring the security of your Plan benefits in the future. You can read the announcement that was sent to members here, as well as the questions & answers document that was sent out at the same time. 

If you have any questions about this letter, please contact the Plan administrator, XPS Administration.