Tate & Lyle has secured a £347m buy-in with Legal & General to cover 43% of its pensioner liabilities, in the biggest bulk annuity deal of the year.
The food firm said the transaction, which relates to the liabilities of three out of seven pensioner members, covered approximately 30% of the scheme's total liabilities based on technical provisions....
The top stories this week were the High Court's decision to block the £12bn annuity transfer from Prudential to Rothesay Life, and a separate court ruling that 'raises the bar' for pension rectification exercises.
Guaranteed minimum pension (GMP) equalisation has soared to the top of pension schemes' to-do lists, with 58% stating it is a priority project, research from Equiniti has revealed.
Professional Pensions is holding its defined contribution (DC) conference on 4 September.