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


Press release (PDF 95KB)

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..."

Further information

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Margrit Williams

PR & Communications Director

Legal & General Retirement Institutional

T: +44 78 44 33 9222

Email Margrit Williams