Sackers advises Coats UK Pension Scheme on its £350m bulk annuity buy-in transaction with Aviva
The buy-in secures the defined benefit pension liabilities of around 3,700 members of Coats’ UK Pension Scheme, removing investment and longevity risk while ensuring benefits and the way they are paid to members are not affected.
Partner Faith Dickson led the Sackers team and commented: “It was a pleasure to work so closely with the Coats pensions team and the scheme’s other advisers. This transaction demonstrates the value of being well prepared and maintaining good communication, to take advantage of opportunities to increase members’ security. All parties involved worked hard in a short timeframe to achieve this excellent outcome for the members.”