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.
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
Margrit Williams
Director of External Engagement, Legal & General Capital
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 FY25) of which c. 43% (c. £0.5 trillion) is international. We have a highly synergistic business model, which continues to drive strong returns. We are a leading player in Institutional Retirement, in Retail Savings and Protection, and in Asset Management through both public and private markets. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.