By IPE Staff2021-01-15T10:52:00+00:00
The defined benefit pension scheme for Marie Curie has agreed to a £30m (€33.2m) full scheme bulk annuity transaction with Legal & General Assurance Society Limited.
The transaction, agreed early in January 2021, secures the benefits of more than 300 retirees and deferred pensioners, it was announced.
The scheme is an existing client of Legal & General Investment Management (LGIM), which has managed a proportion of the scheme’s assets since 2010.
William Medlicott, the scheme’s chair of trustees, said: “We are very pleased to have secured the benefits of our members with Legal & General. The scheme has worked with them over many years and we have found them to be an excellent partner.”
By IPE Staff2020-12-10T12:14:00+00:00
Northern Gas Networks Pension Scheme has agreed a a £385m (€415m) buy-in transaction with Legal & General Assurance Society Limited, securing the pension benefits of more than 600 retirees.
Northern Gas Networks (NGN) is the gas distributor for the North of England, transporting gas to 2.7 million homes and businesses across the North East, most of Yorkshire and northern Cumbria.
The scheme is an existing client of Legal & General, with Legal & General Investment Management (LGIM) having managed a proportion of the fund’s assets since the scheme was established in 2005.
This transaction is the scheme’s first buy-in policy and covers around two thirds of its members, it was announced.
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The Northern Gas Networks Pension Scheme has agreed a £385m pensioner buy-in with Legal & General (L&G).
The deal covers the benefits of more than 600 retirees of the gas distributor, which serves homes and businesses across the North East, Yorkshire and Cumbria.
It is the scheme s first bulk annuity policy and covers around two-thirds of its membership.
The scheme is an existing client of L&G Investment Management (LGIM), which has managed a proportion of the scheme s assets since it was established in 2005.