Imperial Tobacco Pension Trustees Limited completed a £1.8bn bulk purchase annuity transaction with Standard Life, covering around 6,600 pensioner members of the Imperial Tobacco Pension Fund (the “Fund”).
This is the first bulk annuity transaction completed by the Fund. Hymans Robertson acted as lead advisers to the Trustee on this transaction, and the Trustee also received funding and investment advice from Willis Towers Watson and Isio respectively.
Osborne Clarke Partners Paul Matthews (Picture) and Brent Wright advised the Trustee on this transaction, with support from Associate Directors Rebecca Cantrell and James Saddler in their pensions team. Senior Associate Jas Singh and Associate Director Eleanor Williams advised the Trustee on data protection matters, and Associate Director Nick Haywood provided advice on employment matters.
Involved fees earner: Rebecca Cantrell – Osborne Clarke; Nick Haywood – Osborne Clarke; Paul Matthews – Osborne Clarke; James Saddler – Osborne Clarke; Jaskirat Singh – Osborne Clarke; Eleanor Williams – Osborne Clarke; Brent Wright – Osborne Clarke;
Law Firms: Osborne Clarke;