Sackers advises on Siemens £530m buy-in

Sackers advised the trustees of the Siemens Benefits Scheme on a £530m buy-in with Legal & General, insuring the benefits of more than 2,300 pensioner members.

Chair of trustees, Joanna Matthews, said: “I am delighted that we have been able to complete another key step in the trustee’s de-risking journey. Through careful planning, we were able to overcome the logistical and investment challenges posed by Covid-19 and complete this transaction at this time on very favourable terms. This is a fantastic outcome and I would like to thank all involved in the process.”

Read the full article in Professional Pensions.