On the go: The Trans-European Port Services Limited 1974 Pension Scheme has completed a £4.4mn full-scheme buy-in with Legal & General Assurance Society.
The bulk annuity transaction will secure the benefits for six pension scheme members.
It follows on from the circa £17mn buy-in completed for its sister scheme, the John Good & Sons Limited Pension Scheme, last June.
The scheme already had a relationship with L&G Group as Legal & General Investment Management has handled the scheme’s assets since 2021.
Trustee John Rutherford commented: “The trustees are very pleased to have secured the pension benefits of our members with L&G, which is a strong leader in the industry, and we are sure that this will give our members peace of mind.”
This article originally appeared on MandateWire.com
