RegulationAccounting StandardsRank considers £700m pension scheme sale

Rank considers £700m pension scheme sale

Rank looks at selling its £700m pension scheme, major insurance players expected to bid for the work

Gaming group Rank is considering selling the assets and liabilities of its
£700m pension scheme, according to reports.

The big players in the pensions buyout market are likely to be interested in
buying Rank’s scheme.

The market for pension schemes is growing following deregulation, with the
likes of new firm Paternoster joining more established players such as Legal
& General and the Prudential in looking at buying out pension schemes.

The Rank scheme closed to new members in 2000, with fewer than 1,000 of its
20,000 members employed by the group.

Mercer HR Consulting is advising the pension scheme, reported the
FT.

Further reading:

Accountancy Age Profile:
Andy Smith, FD of Paternoster

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