National Grid agrees £1.6bn buy-in with L&G in second deal this year

James Phillips
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The gas firm scheme deal covers 6,000 pensioner members
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The gas firm scheme deal covers 6,000 pensioner members

The National Grid UK Pension Scheme has agreed its second buy-in this year, transferring £1.6bn of pension risk to Legal & General (L&G).

The transaction relates to Section B of the £20bn gas industry scheme and covers benefits for around 6,000 pensioner members. Funding was secured using £1.6bn of the scheme's UK fixed interest s...

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James Phillips
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James Phillips

Professional Pensions journalist from 2016-2022

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