Maersk completes £1.1 billion bulk annuity buy-in : vim

Maersk completes £1.1 billion bulk annuity buy-in


18th December 2020
10:01 am
Danish transportation and energy organisation Maersk has completed a £1.1 billion pensions bulk annuity transaction with Legal and General.
The arrangement will secure the defined benefit (DB) pension benefits of 1,900 deferred members and 3,000 retired members of the Maersk Retirement Benefit Scheme, removing their investment and longevity risks from the scheme. Members will not see any change in the amount of their benefits or how these are paid following the transaction.
The process took a number of steps to de-risk the scheme and put it in a strong position to successfully complete the buy-in transaction during the current turbulent market.

Related Keywords

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