On the go: The Lakeland Laboratories Limited 2012 Retirement Benefit Scheme has completed a full £9mn buy-in with Just Group.
The deal was completed in the second half of 2021 and covers 24 deferred and 30 pensioner members.
Colin Mallard, the scheme’s chair of trustees and finance director of Lakeland Laboratories, said: “It has been our goal for some time to achieve full security for our members’ benefits. I’m thrilled that we have reached this milestone.”
Thomas Crawshaw, senior deal lead at K3 Advisory, which advised the scheme, worked closely through the process with its actuary and administrator H&C Consulting Actuaries, which allowed the company to present a well-prepared scheme to the insurance market.
“This made it easy, despite the size of the scheme, for insurers to put forward their best offers,” he said.
Legal advice to the trustees was provided by CMS and investment advice was provided by Cartwright.
This article originally appeared on MandateWire.com
