In a trading update, the firm also heralded a comeback in workplace pensions
Transaction will protect the fund against rising costs and provide greater security
Reform will support higher bulk annuity volumes without price rises
The transaction with L&G covers the benefits of around 5,000 retirees
The transaction is a ‘key milestone’ towards the trustees’ plan to secure all benefits
The transaction with K3 Advisory covers seven pensioners and 12 deferred members
Market outlook remains ‘positive’ despite recent volatility
The firm has launched a series of videos to help trustees with the transition process
The funding level of many DB schemes has significantly improved this year
The transaction with Standard Life covers the benefits of 770 of the plan’s members