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

Other case studies

The Sea Containers 1983 Pension Scheme

Have a look at how we worked with Sea Containers to secure a £178m buy-out of their pension scheme.