Cookson Group appoints DB pension administrator

Cookson Group has appointed a third-party administrator to its £500-million defined benefit (DB) pension scheme.

The scheme, which has 5,500 members, will transfer to Premier in June 2013.

In January 2013, the group signed its second bulk-annuity policy with provider Pension Insurance Corporation.

Allan Course, chair of trustees for the Cookson Group pension scheme, said; “Having controlled the risks of the scheme and secured some of the liabilities with a buy-in in 2012, we took the opportunity to review our administrators.” 

John Reeve, head of consulting services at Premier, added: “The most important thing when it comes to providing administration is the member outcome.”