The Brandsby Agricultural Trading Association (BATA) has agreed a £13m buyout with Legal & General (L&G), securing benefits for all 120 members of the BATA Superannuation Pension Scheme.
The scheme was an existing L&G customer, having previously partnered with L&G Investment Management's (LGIM's) fiduciary management team.
The trustees were advised on the transaction by Mercer and Hill Dickinson.
Trustee chairman Steven Clarke said: "The trustees are very pleased to have secured the pension benefits of all Scheme members with L&G. The fiduciary management agreement with LGIM has been very effective in providing excellent communication, a clear journey plan and timely investment actions."
L&G director Julian Hobday added: "We are delighted to be able to provide security for all of Brandsby's members during a time of market volatility."
The IPC Media Pension Scheme has agreed a £290m buy-in with Rothesay Life, insuring benefits for around 500 pensioner members.
The Willis Pension Scheme has entered into a longevity swap transaction with Munich Re to manage longevity risk in relation to around £1bn of pensioner liabilities.
The Pension Superfund (PSF) has moved a step closer to completing its first deal with the official registration of the superfund as an occupational pension scheme by HM Revenue & Customs (HMRC).
The Pension SuperFund co-founder Edi Truell responds to PIC’s call for a consolidator to take on smaller underfunded schemes.
Sponsors whose pension schemes complete buy-ins or buyouts tend to outperform their peers by between 0.25% and 3% on average, Mercer research finds.