Brandsby Agricultural Trading Association completes £13 million bulk annuity transaction

Brandsby Agricultural Trading Association completes £13 million bulk annuity transaction

Brandsby Agricultural Trading pension scheme has completed a £13 million bulk annuity buy-out transaction with Legal and General.

The buy-out transaction has secured the benefits of all 120 members under the scheme. The trustees appointed Legal and General Investment Management (LGIM) as fiduciary manager in 2018. The trustees were advised on the transaction by Mercer and Hill Dickinson.

Steven Clarke, chairman of trustees, said: “We are very happy to have supported Brandsby Agricultural Trading Association in capturing the buyout opportunity and securing the benefits of its members.

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“Crucial to the success of this transaction was the combination of having the governance structure in place to manage and opportunistically de-risk; alongside the ability to monitor live transactable buyout pricing and price lock the portfolio quickly and efficiently.”