National Grid (LSE:NG.)
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By Adriano Marchese
Rothesay Life PLC said Tuesday that National Grid PLC (NG.LN) pension scheme has recently concluded a 2.8 billion-pound ($3.4 billion) buy-in policy transaction.
The buy-in policy is in respect of 'Section A' of the National Grid U.K. pension scheme, Rothesay said.
"The buy-in provides greater certainty and assurance about the future costs of providing members' pensions, and we see this as a positive and prudent way of managing the overall funding and risk of the scheme," Chairman and Trustee of National Grid U.K. Pension Scheme Nigel Stapleton said.
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(END) Dow Jones Newswires
October 08, 2019 05:40 ET (09:40 GMT)
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