Sackers advises Smiths Industries on £176m buy-in with Canada Life

Partner, Ian Cormican led the Sackers team advising the trustees of the Smiths Industries Pension Scheme on their latest bulk annuity transaction with Canada Life.  The £176m buy-in follows a number of previous transactions for the £3bn scheme, and is the second with insurer Canada Life.

Commenting on the transaction, Smiths Industries Pension Scheme chair of the trustee, Nicholas Godden, said: “This is another key stride in our de-risking strategy, taking advantage of the strong backing of counter-parties like Canada Life, and thanks to our advisers and the Group’s continued support.”

Read further details in Pensions Age and Professional Pensions

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