Sackers advises IBM I.T. Solutions Pension Scheme on £700m buy-in

The Trustee IBM I.T. Solutions Pension Scheme has completed a £700m buy-in with Standard Life, securing the long‑term benefits of more than 3,600 pensioner and deferred members.

The transaction removes future funding and investment risk for the I Plan while ensuring members continue to receive their benefits as before.

The transaction completed in November 2025. Sackers provided legal advice to the Trustee, while WTW acted as lead transaction adviser, as well as providing actuarial and investment advice.

Robert Tickell, Trustee Chair, said: “We are delighted to have achieved this significant milestone in the I Plan’s de-risking journey. WTW led a thorough and competitive selection process, which led to an excellent outcome for our members. Following which we chose Standard Life as our preferred partner. Standard Life’s strong brand and member-focused proposition played a key role in our decision. The transaction was completed smoothly, and we’d like to take the opportunity to thank all parties for working collaboratively to achieve the best outcome for our members.”

Philippa Connaughton, partner, added: “We were delighted to advise the Trustee on this transaction. Our team drew on extensive risk transfer expertise as well as our knowledge of the scheme to contribute towards the successful conclusion of the transaction.”

The Sackers team comprised partners Philippa Connaughton, Ralph McClelland and David Saunders, senior counsel Helen Rowan, senior associate Sam Taylor, and associates Susan Oakley and Sophia Russell.