LawDeb Pension Trustees part of largest ever bulk annuity buy-in
24 October 2014
...took part in a £3.6billion risk transfer transaction. It included the largest ever bulk annuity purchase in the UK pensions market: a £3billion buy-in with Legal & General. See news item of 15 April 2014.
The Fund’s Chief Executive, Heath Mottram, spoke at a recent LCP pension conference at the end of September; this and the reporting of the details in an article that appeared in latest publication of ‘Professional Pensions’, is a reflection of the continued interest in the deal.
Michael Chatterton, who represents LawDeb Pension Trustees on the ICI Pension Fund, commented that the size of the deal means that trustees of other pension schemes remain interested in the way the buy-in was brought about. He commented that:
The lessons highlighted by Heath and as reported by ‘Professional Pensions’ were crucial in the success of the deal which remains a market milestone