Tate & Lyle has secured a £347m buy-in with Legal & General to cover 43% of its pensioner liabilities, in the biggest bulk annuity deal of the year.
The food firm said the transaction, which relates to the liabilities of three out of seven pensioner members, covered approximately 30% of the scheme's total liabilities based on technical provisions....
The Tate & Lyle Pension Scheme has completed a £930m full buy-in with Legal & General (L&G), insuring benefits for around 4,800 members.
There have now been a total of around 50 buy-in and buyout deals of over £500m announced since 2007. The full list, provided courtesy of LCP, is as follows...
The Universities Superannuation Scheme (USS) is expected to submit its 2018 valuation to The Pensions Regulator in the coming days, despite admitting it is “pushing their limits” in terms of acceptable risk.
Defined benefit (DB) schemes should act now to insure members’ benefits before an “anomaly” in the markets is corrected, Prudential Retirement has said.
Growing market volatility could adversely affect defined benefit (DB) schemes nearing buyout over the next five years, Barnett Waddingham says.