L&G secures £785 million buy-in for Anglo American pension schemes
We’ve completed a £785 million buy-in with three pension schemes sponsored by Anglo American Services (UK) Ltd. This transaction covers the Tarmac UK Pension Scheme, the Tarmac ‘B’ Pension Scheme, and the Anglo UK Pension Scheme, securing the benefits of over 7,600 members, including 5,100 retirees and 2,500 deferred members.
This is our first publicly announced pension risk transfer of 2025, and it builds on the momentum we carried through 2024, when we completed £10.7 billion in global transactions. By structuring this as a combined buy-in, we were able to deliver pricing certainty and efficiency through a price lock mechanism aligned with the schemes’ assets.
With £1.2 billion in UK pension risk transfer transactions already completed this year and £17 billion in new deals actively being priced, we’re excited about what’s ahead. This deal is a great example of how we’re helping schemes reach their long-term goals while delivering peace of mind to their members.
Read the full press release.