Benefits for around 1,000 members are expected to move to buyout by 2024
Deal covers all 350 members of the sportswear and lingerie brand’s scheme
Bulk annuity with unnamed insurer is expected to convert to buyout soon
Deferred-heavy deal follows a similar transaction in 2018
Deal initially structured as buy-in before full handover to L&G expected next year
First deal completed after the Phoenix bulk annuity team’s rebrand
Covid-19 vaccine manufacturer’s scheme insures 2,900 pensioner members
Swaps can work for schemes of any size, say Suthan Rajagopalan and Greg Wenzerul
LCP analysis finds a large number of schemes expect to reach buyout within ten years
Insurer takes on risk for 45 employees of builders merchant