Pension consulting firm K3 Advisory has led the completion of a £2m full scheme buy-in transaction with an unnamed sponsor in the mechanical and electrical industry with Legal & General. The deal was completed in July and secured the benefits of 16 pensioners and three deferred members.
“This transaction is a great example of how swift and efficient these exercises can be if schemes are prepared, and industry relationships and collaborations work well. It’s always pleasing to be able to deliver security for members of small schemes and this scheme was a brilliant example of this: A fantastic result all round,” said John Mayer, Senior Actuarial Consultant at K3 Advisory.
“We are very pleased to have been able to help another smaller scheme achieve its objectives and secure the future of its members’ benefits. In an increasingly busy and competitive market it is reassuring to know we are working with schemes that are well-prepared and transaction-ready. We’d like to thank both the trustee and K3 for their close collaboration which helped make the process smooth and efficient for all parties,” added Joseph Stimpson, Pricing and Operations Director at Legal & General.
