DLA Piper

Deal covers benefits of 235 pensioners 163 deferred members

Pension lawyers tell Professional Pensions what is in store for schemes in 2023

Fixed fee Xpedite service aims to improve buy-in process for smaller schemes

Guide will provide greater certainty for DB scheme trustees regarding transactions

The deal protects the benefits of 800 pensioners and 7,950 deferred members

New rules come into force on 1 June and aim to increase take up of Pension Wise guidance

The full buy-in transaction was signed in December for an undisclosed sum

Deferred-heavy deal completed at the end of 2021 in midst of ‘intense market’ conditions

Deal also provides inflation protection for all 7,600 members of the scheme

Benefits for around 1,000 members are expected to move to buyout by 2024