British Steel Pension Scheme signs £2.7bn buy-in deal with L&G

Fourth and final transaction fully secures the benefits of approximately 67,000 members

Martin Richmond
clock • 4 min read
British Steel Pension Scheme signs £2.7bn buy-in deal with L&G

The British Steel Pension Scheme (BSPS) has completed a £2.7bn buy-in deal with Legal & General (L&G), to fully secure the remaining 40% of the scheme’s liabilities.

The fourth and final bulk annuity transaction between BSPS and L&G follows deals agreed in November 2021, March 2022 and in January this year. Through the transactions, BSPS has become the largest ...

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