BPHA Finance PLC bpha- Pension Fund Exit (1104T)

TIDM59DP

RNS Number : 1104T

BPHA Finance PLC

16 March 2023

bpha - Pension Fund Exit

bpha today announced that it has exited the Bedfordshire Pension Fund (the Fund), a defined benefit fund which participates within the Local Government Pension Scheme.

bpha had previously ceased active participation in the Fund on 30(th) September 2022 and had entered into a deferred debt arrangement (DDA). However, with market conditions being favourable they have now terminated the DDA and will settle all liabilities in full, valued as at the cessation date.

The full liability is GBP9.7m and this settlement removes a key balance sheet risk. The pension provision as at 31st March 2022 was GBP27.5m.

For further information please email [e-mail].

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March 16, 2023 05:00 ET (09:00 GMT)