PIC finalises £24m buy-in to secure benefits for Holophane pension scheme members

PIC, an insurer for defined benefit pension schemes, has completed a £24 million full buy-in of the Holophane Retirement Benefits Scheme, sponsored by Holophane Europe Limited, securing pension benefits for 95 pensioners and dependents and 74 deferred Scheme members.

With a history spanning over 125 years, Holophane Europe Limited is based in Milton Keynes, Buckinghamshire, and is globally recognised for its expertise, quality, and innovation in lighting solutions for interior, exterior, amenity, road, rail, and floodlighting applications.

Payam Kazemian, on behalf of ZEDRA Governance Limited, the Chair of Trustees, commented: “The completion of this buy-in marks a significant milestone in the strategic de-risking journey of the Scheme and delivering financial security for members.

“It was great to work collaboratively with the Company, our advisers, and PIC to achieve this outcome. The advantage of PIC offering a whole of market solution means that this smaller sized transaction nonetheless brings long-term security to the Scheme members’ benefits.”

Jake Stanbridge, Origination Actuary at PIC, added: “We are delighted to have supported the Scheme and the Company in securing this buy-in for all of the Scheme’s members. This deal demonstrates PIC’s ability to help trustees of schemes of all sizes secure their members’ benefits for the long term. By working exclusively with the Scheme we were able to deliver a solution tailored to their needs. The scheme’s advisors ran an effective process, and were a pleasure to work alongside.”

Adolfo Aponte, Managing Director, Cardano, a business of Marsh McLennan, said: “It’s been a pleasure to advise on this transaction, supporting the Trustees in achieving a positive outcome for members. Thorough preparation and the right market approach strategy facilitated this trade on attractive terms, even for a small scheme.”

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