Pinsent Masons Guides £21M Pension Deal For Agribiz

By Martin Croucher (June 23, 2022, 2:55 PM BST) -- An agricultural supplier has offloaded £21 million ($25.7 million) of its pension liabilities to Legal & General Assurance Society Ltd., the insurer said.

The full scheme buy-in deal for Barnett & Hall Holdings Pension Scheme covers benefits for around 110 pension scheme members.

The scheme is connected to Barnett & Hall Holdings, a subsidiary of Belfast-based agribusiness group W&R Barnett Ltd.

"All scheme benefits are now covered by insurance contracts," Declan Billington, chair of trustees, said. "The increased security means it is a great result for members."

L&G said it would help the company move the transaction to a buy-out, meaning...

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