PIC completes £60m buy-in to secure benefits for Bodycote UK Pension Scheme

Group 1 - Pension Insurance Corporation plc (PIC) has completed a £60 million buy-in for the Bodycote UK Pension Scheme, securing benefits for all 680 members of the Scheme [1] - Bodycote provides specialist thermal processing services across various industrial sectors, including aerospace, automotive, energy, defence, and medical, emphasizing performance, reliability, and sustainability [2] - The successful transaction was facilitated by close collaboration among the Trustees, Bodycote, advisers, and PIC, highlighting the importance of teamwork in navigating complex transactions [6] Group 2 - Mark Johnston, Client Director at Vidett and Chair of Trustee of the Bodycote UK Pension Scheme, expressed satisfaction with the buy-in as a step towards ensuring long-term security for members [3] - Adam Dann, Senior Origination Actuary at PIC, noted the effective preparation and collaboration that led to a smooth transaction process [4] - Tom Ridley, Senior Deal Manager at Isio, emphasized the positive outcome secured for the Scheme's members through professional advice and partnership [5]