Sackers advises the Institution of Mechanical Engineers Pension Scheme on £40m buy-in

The Institution of Mechanical Engineers Pension Scheme has concluded a £40m buy-in with Pension Insurance Corporation (PIC), covering the pensions of all 200 scheme members.

Isobel Pollock-Hulf OBE, Chair of Trustees said: “It is a great achievement to reach this significant milestone. This is the culmination of many years of hard work by Trustees past and present, which would not have been possible without the Institution’s diligent support of the Scheme. We would also like to thank our advisers Barnett Waddingham and Sackers for their leadership through the Scheme’s journey to this stage, and Pension Insurance Corporation for working with the Trustees to achieve this buy-in transaction.”

Partner Eleanor Daplyn added: “As longstanding advisers to the scheme, we were delighted to be part of the adviser team on this transaction. We worked collaboratively with the trustees, employer and their respective advisers to deliver this fantastic outcome.”

The Sackers team comprised partners Eleanor Daplyn and Vicky Carr, associate director Polly Ehrman and associate Jack McCahill, with additional support from partner Paul Phillips and associates Emma Scott and Ciara Burke.