The Pearson Pension Plan has entered into a £500m pensioner buy-in with Legal & General (L&G) in the insurer's first deal of 2019.
The transaction insures benefits for around 2,200 current pensioner members, and means the scheme now has bulk annuity policies covering around 50% of its liabilities. Around 95% of pensioner benefits...
Scottish Widows completed five bulk annuity transactions in 2019, with liabilities insured exceeding £2bn.
The Co-operative Pension Scheme (Pace) has agreed a £1bn buy-in with Pension Insurance Corporation (PIC), insuring benefits for around 7,000 members.
There have now been a total of over 50 buy-in and buyout deals of over £500m announced since 2007. The full list is as follows...
Allied Irish Bank (AIB) has secured an £850m buy-in for its UK pension scheme with Legal & General (L&G).
The trustees of the £3bn Merchant Navy Officers Pension Fund (MNOPF) have secured £1.6bn of members’ pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).