Evonik scheme completes £544m full buy-in with L&G

James Phillips
clock • 2 min read
The deal was signed in December
Image:

The deal was signed in December

The defined benefit (DB) scheme of Evonik Holdings UK has agreed a £544m full buy-in with Legal & General (L&G) Assurance Society.

The four UK schemes merged to insure the benefits of over 3,600 UK pension scheme members last month. The deal follows a similar transaction a $93m (£68m) "lift out" - a US transaction similar t...

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