Burges Salmon Supports Lingerie Co. In £49M Pension Deal

By Martin Croucher (December 17, 2021, 1:13 PM GMT) -- The U.K. division of a Swiss lingerie and underwear company has struck a deal to insure £49 million ($65 million) of liabilities in its pension scheme with Legal & General Assurance Society Ltd., the insurer said on Friday.

The buy-in transaction will mean that the 350 members of the Triumph International Pension Scheme have secured protection against any possible disruption to their benefits in the future.

The deal was announced amid signs that the value of pension deals carried out in Britain this year could hit £45 billion, down from the record-breaking £54 billion in transactions last year.

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