A&O advises Asda on pension scheme buy-in
18 October 2019
The Scheme’s Trustee, enabled by a one-off contribution from Asda, has purchased a bulk annuity insurance policy from Rothesay Life Plc that will meet the future benefit payments for all c.12,300 members.
Andy Cork, partner, Corporate Pensions said: "Buy-outs are often seen as the gold standard for members and we are delighted to be able to help Asda and the Scheme’s Trustee in securing the benefits of their defined benefit members."
For further information, please contact Elizabeth.Randall@allenovery.com on +44 (0)20 3088 2989.