Heathrow Airport's defined benefit (DB) plan has completed a £325m pensioner buy-in with Legal & General (L&G) financed by an innovative corporate bond.
Around 1,300 pensioner members of the BAA Pension Scheme, representing 9% of its liabilities, are covered by the deal, which is the scheme's first and saw the sponsor issue a long-dated index-linke...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
