L&G concludes £105m top-up buyout for Nortel scheme

James Phillips
clock • 2 min read

The Nortel Networks UK Pension Plan has agreed a further £105m buyout with Legal & General (L&G), topping up the benefits agreed in a prior deal.

The transaction follows a £2.4bn buyout with the same insurer in 2018, and has used additional funds received following proceedings around the sponsor's insolvency in 2009. The communications gi...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Risk Reduction

Balfour Beatty Pension Fund agrees £1.7bn longevity deal

Balfour Beatty Pension Fund agrees £1.7bn longevity deal

Transaction will protect the fund against rising costs and provide greater security

Martin Richmond
clock 30 November 2022 • 1 min read
TT Group scheme agrees £400m buy-in with L&G

TT Group scheme agrees £400m buy-in with L&G

The transaction with L&G covers the benefits of around 5,000 retirees

Martin Richmond
clock 22 November 2022 • 3 min read
Blanc: "Our customers have continued to save for their future and protect what is valuable to them"

Aviva commits to 2022-24 bulk purchase annuity target

Market outlook remains ‘positive’ despite recent volatility

Martin Richmond
clock 09 November 2022 • 2 min read
Trustpilot