On the go: The £50mn Boots Supplementary Pension Plan has agreed a full buy-in with Legal & General Assurance Society, covering the benefits of more than 110 pension members.
Legal & General has a long-standing relationship with Boots, having provided investment management services to the plan for more than 20 years.
Lisa Varley, senior consultant in Aon’s risk settlement group, said: “This transaction represents an important move for the trustees and sponsor in securing plan members’ benefits.
"The successful outcome illustrates that there are excellent opportunities for sub-£100mn schemes, as long as insurers can see a clear line of sight to a successful transaction.”
According to the plan’s last updated statement of investment principles, prior to the buy-in, the trustees of the fund followed a broad liability-driven investment approach, holding a number of pooled funds investing in fixed income, cash and derivatives.
This article originally appeared on MandateWire.com
