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2. £4.6 billion buy-in with Ford pension schemes

£4.6 billion buy-in with Ford pension schemes

We completed two buy-ins totalling £4.6 billion with pension schemes sponsored by Ford Motor Company Limited. This includes the Ford Hourly Paid Contributory Pension Fund and the Ford Salaried Contributory Pension Fund (The Funds).

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The buy-ins were completed as part of one combined transaction, which secures the benefits of over 35,000 retirees across the Funds. This transaction was notable for its seamless collaboration and engagement between L&G, and the Funds’ Trustees and their advisors, finalising a significant deal in a short timeframe. The Trustees were advised by Aon as lead transaction adviser and Mayer Brown as lead legal advisor. Hogan Lovells also provided legal advice and Aptia provided administration support to the Trustees. Slaughter and May provided legal advice to L&G.

Read the full press release.