Press releases

Legal & General completes c.£930 million buy-in with the Tate & Lyle Pension Scheme

Legal & General Assurance Society Limited (“Legal & General”) today announces that it has completed a £930m full buy-in for the members of the Tate & Lyle Pension Scheme.

19 Sep 2019

Press release (PDF 94KB)

This transaction covers around 4,800 members which, in addition to the 2012 transaction, means around 6,700 members are now covered by Legal & General in total.

Tate & Lyle has been in business for over 150 years and is now a global provider of solutions and ingredients for food, beverage and industrial markets.

Legal advice was provided to Legal & General by Macfarlanes. The Trustees were advised on the transaction by LCP and Linklaters.

Laura Mason, CEO Legal & General Retirement Institutional: "This transaction will support Tate & Lyle as it focuses on running its business, while ensuring that the long-term benefits promised to its pension scheme members are fulfilled."