The retirement benefits of the Cuthbert Heath Family Plan (CHFP) have been secured through a transfer of assets to Paternoster.
Trustee GP Noble has purchased annuities from Paternoster and thereby removed any risk from the CHFP.
Chief executive of Paternoster, Mark Wood, commented: “We are delighted to be able to announce the transfer of the investments of one of our first schemes. We have a substantial pipeline currently sponsored by small and medium sized businesses anxious to secure their pension schemes. Trustees increasingly recognise the benefit of securing their pension scheme with a regulated pension company.”
Graham Pitcher, director of GP Noble, said: “As trustees, ensuring the long term security for the scheme members was paramount. We are confident that the solution offered by Paternoster delivers the best possible outcome for our pensioners and the remaining members.”
