House Of Fraser Obtains Court Approval For Bulk Pension Buyout

By Lucia Osborne-Crowley (January 13, 2022, 6:19 p.m. GMT) – A court on Thursday approved a bid by the trustee of the House of Fraser department store chain’s pension fund to conduct a bulk annuity buyout which, according to he, will protect members’ pension pots while the retailer’s pension fund is in deficit.

High Court Chief Master Karen Shuman has given the green light to a request by the retail brand’s trustee to enter into a block annuity deal that would give fund members a guaranteed fixed income. House of Fraser fell into administration in 2018 and was bought by billionaire Mike Ashley.

The trustees asked the court for permission…

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