On the go: The BHS2 pension scheme, which was set up in 2017 after the collapse of department store chain BHS, has completed a buyout with the Pension Insurance Corporation that will cover £800m of liabilities.
The circa 9,000 members of two previous BHS schemes who elected to enter the BHS2 scheme will receive their benefits in full.
Members of the predecessor schemes who chose instead to enter the Pension Protection Fund, or those who took a lump sum in place of their pension, will not be covered as part of the deal.
Chris Martin, managing director of Independent Trustee Services, said: “It has always been our goal to deliver the best possible outcome for the members of this scheme.”
“A buyout guarantees member benefits under the BHS2 Scheme, and is the most secure solution for the members of this scheme. I am delighted that we have been able to accomplish this transaction far earlier than expected,” he added.
