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    14-08-2018

    Eversheds Sutherland advises on £800m BHS2 Pension Scheme buyout with PIC

    Eversheds Sutherland has advised the £800m BHS2 Pension Scheme on its buyout with Pension Insurance Corporation plc (PIC).

    PIC, a specialist insurer of defined benefit pension funds, concluded a full buyout, covering £800 million of liabilities and all of the approximately 9,000 members of the BHS2 Scheme.

    The pension obligations of the BHS2 Scheme are now fully insured and secured with PIC, providing members with certainty of receiving their BHS2 Scheme benefits.

    The BHS2 Scheme is a new pension scheme set up in 2017 following the collapse of BHS and the subsequent cash injection by Sir Philip Green. It covers members of two predecessor BHS Pension Schemes who chose to transfer to the BHS2 Pension Scheme under the terms offered by the predecessor BHS Schemes.

    The Eversheds Sutherland team was led by Partner Mark Latimour and comprised: Client Partner for BHS Emma King, Principal Associate Vanessa Wells and Associate Rosamund Wood.

    The full press release can be found here.

    For more information on Eversheds Sutherland, visit eversheds-sutherland.com

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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