Press release

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 Sept 2019

Press release (PDF 94KB)

Tate & Lyle announces dietary fibre research collaboration

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."

Notes to editors

Established in 1836, L&G is one of the UK's leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at HY24) of which c. 40% (c. £0.5 trillion) is international.

We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.

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