LSE pension scheme agrees £335m buy-in with Standard Life

Written by Adam Cadle

11/10/2023

The London Stock Exchange (LSE) Group Pension Scheme has completed a £335m bulk purchase annuity deal with Standard Life, covering 1,740 members across the LSE and London Clearing House sections of the scheme.

Aon acted as the lead adviser on the buy-in, which completed in May 2023, while legal advice was provided to the trustees by Eversheds Sutherland and investment advice by Redington. Standard Life was advised by Herbert Smith Freehills and ITM.

Standard Life senior business development manager, Rhian Littlewood, said: "This transaction was made possible thanks to the exceptional collaboration and engagement between all parties involved, working together to identify the solutions that best matched the specific de-risking requirements of the scheme.

"Increased funding levels meant that the scheme was well positioned to explore how to reduce its risks through a bulk purchase annuity deal.

"Through this collective effort, the scheme was able to seize an ideal market opportunity, resulting in a smooth and efficient process, and we are pleased to have been part of this solution.”

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