Neon Advises Building Supplier On £8M Pension Deal
By Martin Croucher (September 28, 2021, 12:26 PM BST) -- A building supplies provider has insured £8 million ($11 million) of pension scheme liabilities with Legal & General, the insurer said on Tuesday, amid a wider shift in the market this year toward smaller deals.
The buy-in transaction insures against the risk that the cost of providing benefits to 45 members of the Atkinson Northern Ltd. Retirement Benefits Scheme is affected by changes in investment performance.
The deal was agreed as the trend toward smaller pension deals accelerates this year after a record-breaking £54 billion worth of transactions were carried out in 2020.
"This transaction demonstrates our ability to provide peace...
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