L&G and Citrus Pension Plan agree £6.5m buy-in

Written by Adam Cadle

14/02/2023

Legal & General (L&G) has agreed a buy-in transaction with the Amey Services section of the Citrus Pension Plan totalling c.£6.5m, and securing the benefits of 70 retired and deferred members.

Amey Services is a section of the Citrus Pension Plan, a DB master trust made up of more than 30 different sections. Amey Services Limited is one of Britain’s leading manufacturing services and engineering companies and dates back to 1921.

L&G director, pension risk transfer, Sabeen Iftikhar, said: “We’re delighted to have completed this buy-in with Amey. Our collaborative and client-friendly approach meant we were able to price the Plan quickly and efficiently despite a busy market, making the process seamless and straightforward for the client. We look forward to working with the Citrus Pension Plan in the future and supporting them throughout their de-risking journey.”

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