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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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| Pensions Data Science Actuary | ||
| Offices UK wide, hybrid working - Negotiable | ||
| Head of Pricing | ||
| London - Negotiable | ||
| Global Specialty Pricing Actuary | ||
| London - £95,000 Per Annum | ||
| Client-facing DC investment manager | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| Financial Risk Leader - Bermuda | ||
| Bermuda - Negotiable | ||
| Aylesbury Actuaries | ||
| Aylesbury / hybrid 3dpw office-based - Negotiable | ||
| Make an impact in protection pricing ... | ||
| London / hybrid 2 days p/w office-based - Negotiable | ||
| BPA Implementation Manager | ||
| North / hybrid 50/50 - Negotiable | ||
| Head of Reserving | ||
| London - £160,000 Per Annum | ||
| In-force Longevity Actuarial Analyst | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Make a difference within reinsurance ... | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Be at the cutting-edge of life & heal... | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Longevity Pricing Analyst | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Develop your career in life reinsuran... | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Protection Pricing Actuary - Life Rei... | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Life (Re)insurance Pricing Manager (P... | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Take the lead: life & health reinsura... | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Pricing Tools and Systems Developer | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Longevity Pricing Actuary | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
| Shape the future of longevity | ||
| London / hybrid 2 dpw office-based - Negotiable | ||
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