UK Utilities Co. Transfers £1.6B Pensions To L&G

Law360, London (November 26, 2019, 1:07 PM GMT) -- The U.K.’s National Grid has transferred £1.6 billion ($2.1 billion) of its pension responsibilities to Legal & General, capping off a record year for bulk annuities transfers.

The utilities operator, which is a priority for nationalization under a potential Labour government, said the buy-in was a move to minimize risk for its £20 billion pension plan for former employees of the gas industry.

Rothesay Life insured a £3.8 billion section of the National Grid scheme in September. The company said the buy-ins will protect the future of the plan from the potential impact of rising life expectancy and against financial risk from inflation...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!