LawDeb Pension Trustees part of Scottish Widows' first external bulk annuity transaction
27 November 2015
LawDeb Pension Trustees represented by Vicky Paramour in its role as independent trustee to the Wiggins Teape Pension Scheme was involved in Scottish Widow’s first external bulk annuity transaction, a £400million pensioner buy-in.
The transaction covers around two-thirds of the Scheme’s liabilities in respect of 4000 members and was executed with an innovative premium payment process designed to accommodate the Scheme’s disinvestment timetable whilst minimising execution risk.
Following completion of the deal Vicky said:
we were delighted to bring our expertise in this market to the deal. It enhances the security of the members’ benefits, strengthens the funding of the Scheme and so mitigates cost for the Scheme’s sponsor.
For additional information, please see the Scottish Widows Press Release.