L&G completes £16m buy-in with John Graham pension scheme

Written by Adam Cadle

29/04/2024

Legal & General (L&G) has completed a £16m buy-in with the John Graham (Dromore) Limited Pension and Life Assurance Scheme, securing the benefits of 172 retirees and deferred members.

The sponsoring company, John Graham Construction Limited, is a construction services provider in the UK. L&G has an existing relationship with the parent company, GRAHAM, partnering with them on several construction projects in Glasgow, Belfast, and London.

Isio served as the adviser to the trustees of the scheme, while legal advice on the transaction was provided to the trustees by Osborne Clarke.

Matthew Dales, director, UK PRT, Legal & General Retirement Institutional, said: “This transaction illustrates how Legal & General is supporting pension schemes of all sizes. The trustees worked with us on an exclusive basis and followed our streamlined flow process to ensure a seamless and straightforward transaction. Our flow proposition enabled the trustees to novate their LGIM holdings to L&G at mid-price, allowing a smooth and efficient payment of the premium with a high degree of price certainty. We are pleased that the scheme has secured its members’ benefits with us and we look forward to looking after them in the years ahead.”

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