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Travers Smith Guides £105M Nortel Pension Deal With L&G

ADVERTISEMENT ADVERTISEMENT Travers Smith Guides £105M Nortel Pension Deal With L&G Law360, London (May 11, 2021, 12:28 PM BST) The British employee retirement scheme of Nortel Networks Corp., the Canadian telecoms giant that collapsed in 2009, has insured a further £105 million ($148 million) of pension liabilities with Legal & General Assurance Society Ltd., the insurer said on Tuesday. The buy-out means L&G will take on full responsibility for paying members in the Nortel Networks UK Pension Plan. The deal builds on an earlier £2.4 billion buyout in 2018 and will provide additional benefits to 8,200 retirees and 4,300 members of the retirement scheme, L&G said. The pension scheme is the workplace saving plan for British employees of Nortel, a Toronto-based global.

MUST-READ OF THE WEEK: RED AMARYLLIS BY DENISE E JACOBS

MUST-READ OF THE WEEK: RED AMARYLLIS BY DENISE E JACOBS
thescarboroughnews.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thescarboroughnews.co.uk Daily Mail and Mail on Sunday newspapers.

MUST-READ OF THE WEEK: RED AMARYLLIS BY DENISE E JACOBS

MUST-READ OF THE WEEK: RED AMARYLLIS BY DENISE E JACOBS
motherwelltimes.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from motherwelltimes.co.uk Daily Mail and Mail on Sunday newspapers.

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