Linklaters advises the Trustee of the Vesuvius Pension Plan on pension scheme buy in with Pension Insurance Corporation

Linklaters has advised the Trustee of the Vesuvius Pension Plan, the pension plan of Vesuvius plc, a leading metal flow engineering company, on 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 and counsel Alasdair Smith (both Pensions, London). 

John Sheppard, commented:

“We are pleased to have supported the Trustee on a number of buy-in arrangements with PIC since 2012, to help better secure the benefits of members of the Plan. Managing pensions scheme risk and protecting members are of paramount importance for our client and we are pleased to have supported again on another successful transaction.”