On the go: The Kesslers Group Pension Plan has agreed a £21mn full scheme buy-in with Legal & General.
The deal, which was signed in June, secures the benefits of approximately 240 employees, including a mix of deferred and pensioner members.
Kesslers Group chair and trustee Charles Kessler said: “Our staff — past, present and future — have been key to our success as a family business.
“The opportunity for us to secure the plan’s benefits with an insurer is a great step forward.”
Broadstone led the advice for the trustees alongside the pension fund’s investment adviser, Barnett Waddingham. Shoosmiths provided legal advice.
“We have been particularly impressed with the speed of agreement for the annuity contract, which was achieved in under three months. This is a testament to Broadstone working closely with Legal & General and our other advisers to focus on transacting as smoothly as possible,” Kessler added.
This article originally appeared on MandateWire.com
