Slaughter and May advised Legal & General Assurance Society Limited on the de-risking of The Pearson Pension Plan

Slaughter and May advised Legal & General Assurance Society Limited on the de-risking of The Pearson Pension Plan (the Plan) by way of a circa £600 million buy-in transaction with the Trustee of the Plan. The buy-in covers around 2,400 members of the Plan and helps the Trustee align its investments more closely with the pension benefits that the Plan is paying to members. The buy-in utilises an innovative umbrella contract structure that allows for further transactions to be completed quickly under existing contracts.

Slaughter and May supported the Legal & General legal team, which was led by Helena Hawthorn and Tom MacAulay.