Question 1

How many Smiths Industries Pension Scheme members were covered by Smiths' £760m bulk annuity buy-in on 21 July 2026?

Accepted Answer

The £760m bulk annuity buy-in completed on 21 July 2026 covered more than 10,000 members of the Smiths Industries Pension Scheme.

Question 2

Have Smiths completed disposals of Interconnect and Detection?

Accepted Answer

Yes. Smiths completed the disposals of Interconnect and Detection, which materially change the company’s strategic profile and financial risk exposure.

Question 3

Did Smiths have to make additional contributions to fund the July 2026 buy-in?

Accepted Answer

No; the Trustee funded the £760m buy-in entirely from the scheme's assets, so no additional contributions were required from Smiths.

Question 4

What disposals did Smiths complete on 21 July 2026?

Accepted Answer

On 21 July 2026 Smiths completed the sales of Smiths Interconnect and Smiths Detection, which the company said marked the end of its transformation into a focused industrial technology group specialising in flow control and thermal solutions.

Question 5

What bulk annuity transaction did Smiths Group and its pension trustee execute in mid‑2026?

Accepted Answer

In mid‑2026 Smiths Group and its pension trustee executed a £760m bulk annuity buy‑in.

Question 6

What pension action did Smiths take in 2026 for the Smiths Industries Pension Scheme?

Accepted Answer

In 2026 Smiths carried out a £760m bulk annuity buy-in for the Smiths Industries Pension Scheme, bringing about 17,000 members into full insurance across five annuity policies with insurers including M&G/Prudential Assurance Company, Canada Life and Pension Insurance Corporation.

Timeline

Smiths

Smiths Group completes £760m pension buy-in with M&G

Smiths Group sells Interconnect and Detection; plans £1.5bn shareholder return

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