Gowling Guides UK Bar Giant On £650M Pensions Deal
By Martin Croucher (December 21, 2021, 11:16 AM GMT) -- A major pub and restaurant chain has insured £650 million ($860 million) of its pension liabilities with Legal & General, the insurer said on Tuesday.
The deal will cover all members of the executive plan operated by the company, which owns national pub and restaurant chains. (iStock)
L&G said the deal for the Mitchells & Butlers Executive Pension Plan would insure against the risk that the cost of providing benefits for members would increase, due increased longevity or changes in interest rate or inflation.
The deal will cover all members of the executive plan, one of two defined benefit retirement schemes...
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