GBP200m buy in of final salary pension scheme liabilities
A company on a GBP200m buy in (insurance) of the liabilities of its final salary pension scheme, with a view to converting that to a buy out over the coming year. This has effectively rid the company of its final salary pension liabilities, in a manner that ensures the security of the scheme members' benefits.
Advised the trustees of two final salary pension schemes on a GBP40m transfer of assets and liabilities into a new master trust. This was an important matter, for both the employer, as part of the rationalisation of its legacy pension arrangements, and the trustees of the two schemes, in ensuring a good outcome for the members of those schemes.