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