26 Nov 2019
Legal & General announces £1.6billion buy-in with the National Grid UK Pension Scheme
Legal & General Assurance Society Limited (“Legal & General”) today announces that it has written a pension risk transfer (“PRT”) transaction of £1.6billion with the National Grid UK Pension Scheme (“NGUKPS”)
The buy-in policy is in respect of Section B of the NGUKPS. The NGUKPS is a £20billion defined benefit pension scheme primarily for previous employees of the gas industry.
This buy-in will further protect the future funding of the Scheme by reducing the potential impact of changes in life expectancy and by removing financial risks such as interest rate and inflation changes.
Further information on this press release can be found via the link below