Sackers provide legal advice to trustees of IHS (Global) Ltd. Pension and Life Assurance Scheme as part of pension risk transfer deal with L&G
Sackers have provided legal advice to the trustees of the IHS (Global) Ltd. Pension and Life Assurance Scheme, as part of a pension risk transfer (PRT) deal agreed by IHS Markit and Legal & General (L&G).
Partner, Stuart O’Brien, and senior associate James Geer, advised the trustees of the Scheme as part of the deal in the UK, which was for £37.8m and covers around 150 members.
In all, the PRT transactions totalled £116.2m agreed by IHS Markit and L&G for its schemes in the UK and US. L&G has completed 17 bulk annuity transactions in the UK and US in 2020 so far, securing a total of £1.4bn of member benefits.
James said, “We were delighted to help the trustees of the IHS (Global) Ltd. Pension and Life Assurance Scheme reach a key milestone for both the scheme and IHS Markit. We advised the trustees throughout the process on the legal aspects of the buy-in transaction with L&G.”
Read the article in full on Pensions Age here.