L&G completes £4.6bn buy-in with Ford pension schemes

Written by Adam Cadle

27/10/2025

Legal & General Assurance Society (L&G) has completed two buy-ins totalling £4.6bn with pension schemes sponsored by Ford Motor Company, the largest pension risk transfer (PRT) announced in the UK this year.

L&G said it is also the firm’s second-largest buy-in by premium size of all time. L&G has completed almost half of the 20 largest UK buy-ins and buyouts announced since 2007 securing more than £30bn across these transactions.

The buy-in includes the Ford Hourly Paid Contributory Pension Fund and the Ford Salaried Contributory Pension Fund.

The buy-ins were completed as part of one combined transaction, which secures the benefits of over 35,000 retirees across the funds.

António Simões, CEO, L&G, said: “This £4.6bn transaction puts us firmly on track to achieve our PRT growth targets. Our long-term relationship with Ford is a great example of the competitive edge that comes from the synergies between L&G’s businesses, and the ongoing value this creates for trustees, sponsors and pension scheme members.”

The trustees were advised by Aon as lead transaction adviser and Mayer Brown as lead legal adviser. Hogan Lovells also provided legal advice and Aptia provided administration support to the trustees. Slaughter and May provided legal advice to L&G.

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