Mizuho's hybrid scheme winds up with L&G in £10m buyout

Stephanie Baxter
clock • 3 min read

Mizuho Capital Markets has offloaded its hybrid pension fund through a transfer exercise and ultimately a buyout with Legal & General (L&G), following a corporate reorganisation.

The scheme with around 190,000 members, had a complex benefits structure whereby individual defined contribution (DC) accounts were underpinned by contracted-out defined benefits (DB). The deal ...

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