Seiko Epson headquarters in Japan
Epson U.K. Ltd., Hemel Hempstead, England, completed a £60 million ($76 million) pension plan buy-in with U.K. financial services firm Just Group, according to a news release.
The deal secures the benefits of 113 retirees and a further 289 deferred plan participants.
The plan is sponsored by technology company Epson U.K. and Epson Europe BV, subsidiaries of the Japan-headquartered technology manufacturing firm Seiko Epson Corp.
Ethaniel Kelly-Wilson, head of HR operations for Epson Europe, said in the news release: “Through this transaction, Epson is securing its long-standing pensions promises to plan members, and we are reassured that all of the affected employees agreed with our business case to make this change.”
The deal was completed in February 2024, and builds on Just Group’s record year of new business volume totaling £3.4 billion in 2023, according to the news release.
