Linklaters advises Staples UK on further de-risking of its pensions scheme

Linklaters’ pension practice has advised the sponsoring employer, stationery and office supplies firm, Staples UK Limited on the £47m buy-in with Legal & General (L&G), covering over 175 deferred members and 85 retirees in the Universal Office Supplies Pension Scheme.

Following wider de-risking discussions with the trustee, the transaction has been agreed as part of a collaborative sole insurer process. This deal is particularly interesting as the premium was split in two to allow for disinvestment of certain illiquid assets.

The scheme trustee will now work with L&G towards a buyout within set timeframes.

Staples UK pension scheme agrees £47m buy-in with L&G - Pensions Age Magazine