The Tui Group UK Pension Trust has agreed two pension risk transfer deals with Legal & General (L&G) Assurance Society, comprising a £610m partial buy-in for the BAL section and a £184m full buy-in for the TAPS section of the scheme.
The transactions are the scheme’s first pension risk transfer deals with L&G, and covers two of the three pension sections within the scheme.
The trustee was advised on the transaction by LCP, with legal advice provided by Linklaters, whilst Tui was…