Vesuvius Pension Plan’s Pension Scheme Buy in With Pension Insurance Corporation

In UK Linklaters, advised on the matter.

Linklaters advised Trustee of the Vesuvius Pension Plan with a team including John Sheppard (Picture – Insurance).

The Trustee of the Vesuvius Pension Plan, the pension plan of Vesuvius plc, a leading metal flow engineering company, signed a further pension insurance buy-in agreement with Pension Insurance Corporation (PIC).

The transaction, which is the seventh pension insurance buy-in arrangement that the Vesuvius Pension Plan has arranged with PIC, the first of which was secured in July 2012 with advice from Linklaters, covers £305m of liabilities. The insurance policies with PIC now cover over £600m of liabilities, and all benefits in the Vesuvius Pension Plan are now insured with PIC.   

The Linklaters team was led by partner John Sheppard (Picture) and counsel Alasdair Smith (both Pensions, London). 
 

Involved fees earner: John Sheppard – Linklaters; Alasdair Smith – Linklaters;

Law Firms: Linklaters;

Clients: Trustee of the Vesuvius Pension Plan;

Author: Giulia Di Palma