Sackers Advises On £2.2B Pension Deal For Packaging Firm

By Martin Croucher (October 4, 2021, 12:09 PM BST) -- U.S. packaging company Crown Holdings Inc. said on Monday that it has insured liabilities worth £2.2 billion ($1.6 billion) in its staff retirement scheme for workers in Britain — the largest pension deal of the year.

The company, which operates in north west England under the brand Crown Packaging Manufacturing UK, said the deal will secure the benefits of the 10,300 pensioners in the scheme and another 2,200 who have not yet reached retirement age.

The risk transfer deal, with Pension Insurance Corp., is the largest such transaction of 2021. It bucks a trend this year for a growing number of...

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