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Pensioner buy-in with the Tate & Lyle Group Pension Scheme
Legal & General has entered into a £347m pensioner buy-in with the Trustee of the Tate & Lyle Group Pension Scheme. The Trustee of the scheme will hold the L&G bulk annuity policy as an investment to hedge 43% of the pensioner liabilities.
Legal & General was able to demonstrate a flexible approach to structure the contract to meet the Trustee's requirements and, once selected as preferred provider, L&G worked closely with the Trustee and its advisers to execute in a manner that provided certainty and transparency.
This is the largest bulk annuity transaction announced in 2012 by a UK pension scheme. The transaction demonstrates L&G's ability to win large scale bulk annuity business, supported by expert capability in longevity science and asset/liability matching. This enables us to meet both the client's needs and our target returns on economic capital. The transaction builds on the £480m of Bulk Purchase Annuities completed in 2012 at the end of Q3, and successful £1.1bn bulk annuity deal with the Trustee of the Turner & Newall Scheme in October 2011.
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| Senior Pricing Actuary | ||
| Fully remote - Negotiable | ||
| STAR EXCLUSIVE CONTRACT: GI model val... | ||
| Flex / hybrid 1 dpw office-based - Negotiable | ||
| STAR EXCLUSIVE: GI model validation lead | ||
| Flex / hybrid 1 dpw office-based - Negotiable | ||
| NEW: In-house Pensions Actuary role | ||
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| Scheme Actuary | ||
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| Varied Pensions Actuarial Manager | ||
| UK-wide / hybrid 2 dpw office-based - Negotiable | ||
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| BPA Pricing Lead | ||
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| BPA Pricing Actuaries | ||
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| BPA Pricing Senior Actuary | ||
| Flexible / hybrid with 2 days p/w office-based - Negotiable | ||
| Solvency II GI Contractor - Immediate... | ||
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| South Coast / hybrid - Negotiable | ||
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| London / hybrid (3 dpw office-based) - Negotiable | ||
| Financial Lines Pricing Manager | ||
| London / hybrid - Negotiable | ||
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