Stephenson Harwood advises JLT Pension Scheme trustees on £120m Prudential buy-in
Stephenson Harwood has advised the trustees of JLT UK Pension Scheme on the company’s £120m buy-in agreement of its defined-benefit liabilities with Prudential.
The transaction, which covers a tranche of the £500m scheme’s pensioner members, was structured to enable the trustees to secure the liabilities at a competitive price.
Trigger prices were set for tranches of the scheme’s liabilities and Prudential was provided with assets to meet these triggers and complete the transaction.
The Stephenson Harwood team advised on all aspects of the buy-in, including negotiations of the legal contract between the trustees and Prudential.
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