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BA Pension Plan Transfers £4.4B Exposure In Landmark Deal

Law360, London (September 13, 2018, 5:07 PM BST) -- British Airways’ pension scheme has shifted £4.4 billion ($5.8 billion) of liabilities to the insurance industry in Britain’s largest ever transaction of its kind, after regulators boosted their scrutiny of retirement funds following a series of corporate collapses.

The Airways Pension Scheme said Thursday that it had agreed to a “groundbreaking” bulk annuity buy-in with Legal & General Assurance Society Ltd. to cover 60 percent of all members’ liabilities.

The deal “demonstrates the vision and determination of the trustee to reduce risk and increase security for...
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