On the go: The Triumph International Pension Scheme has agreed a full £49m buy-in with Legal & General Assurance Society.
The bulk annuity transaction covers around 140 deferred and 210 retired members.
L&G worked flexibly with the trustees during the process to find the right solution for the scheme.
This meant enabling them to lock the price to the scheme assets once the transaction had been agreed, so that any risk of movement in pricing was mitigated for the trustees once they entered exclusivity with L&G.
Louise McCalla, chair of trustees, commented: “We were really pleased with the outcome of this project and to the extra security it brings to our 350 members.”
Ash Williams, lead broker at XPS Pensions Group — which advised on the deal — added: “Close monitoring of the bulk annuity market allowed the trustees to transact several years earlier than originally planned.”
Prior to the transaction, River and Mercantile was the scheme’s investment consultant and fiduciary manager.
This article originally appeared on MandateWire.com
