Merchant Navy Officers Pension Fund secures a £680m bulk annuity

The Trustee of the Merchant Navy Officers Pension Fund (MNOPF) has concluded a buy-out covering £1.3 billion of members' pension benefits in the MNOPF's Old Section to fully insure all the members of the Fund's Old Section. Individual policies from leading insurance de-risking providers, Rothesay Life and Legal & General, have recently been sent to all of the MNOPF's Old Section members.