Press releases

Legal & General completes c.£0.5bn buy-in with the Pearson Pension Plan

Legal & General’s pre-agreed “umbrella contract” terms enable efficient follow up to 2017 buy-in transaction.

22 Feb 2019

This buy-in covers approximately 2,200 current pensioner members and, alongside the transactions completed by the Plan in 2017, increases insurance coverage to approximately 50% of the Plan’s liabilities.

Legal & General provided a c£600m buy-in in 2017, covering approximately 2,400 members.

Chris DeMarco, Managing Director, UK Pension Risk Transfer: "We are delighted to have been able to partner with the Plan to further improve the security of members’ benefits... Our longstanding relationship with the Plan across our business and wide-ranging expertise in respect of these structures have been important factors in developing this solution..."