Pearson Pension Plan
A look at how we secured a £600m bulk annuity deal
Key facts
In 2017, Pearson, the multinational publishing and education company, appointed us to carry out a £600m pension buy-in. A deal was developed to help reduce risk and provide pension cover and long-term security for the scheme’s 2,400 members.
The background
In 2017, the trustees of the Pearson Pension Plan began to look to UK insurers for a pension buy-in. This was part of their long-term strategy to reduce risk by aligning investments more closely with their members’ pension benefits.
How we helped
By working closely with the trustees and their advisers, we gained a clear understanding of Pearson’s goals and developed solutions tailored to their needs. We delivered:
Competitive pricing
We developed a commercially attractive transaction, relative to the scheme’s technical provisions
Enhanced security features
We included extra protections within the contract to provide greater security for its members
An umbrella contract
This was set up to enable Pearson to complete future buy-ins quickly, when the price is competitive
Defined Benefit Solutions
We’re a leading provider of flexible solutions for UK defined benefit pension schemes
