Transaction between the pair means all scheme members are now fully insured
L&G and Just post strong risk transfer business in first half of 2023
Full scheme transaction covers all pensioner and deferred members
Majority of DB trustees will approach insurer about de-risking in the near future
Transaction secures benefits for all remaining uninsured scheme members
Deal protects scheme from cost of unexpected increases in life expectancy of members
Transaction secures benefits of 46 deferred members and ten pensioners
Transaction secures the benefits for approximately 570 members
BPA transaction secures benefits for over 20,000 deferred and pensioner members
£40m bulk annuity transaction fully secures benefits for all the members of the scheme