Travers Smith LLP has advised the Trustee of the Guilbert UK Retirement Benefits Plan on a £140m bulk annuity deal with Aviva.
The £140m buy-in transaction insures in full the defined benefit liabilities for all members of the Guilbert UK Retirement Benefits Plan, sponsored by Office Depot UK Pension Sponsor Limited.
Niamh Hamlyn commented: "We were delighted to continue our longstanding partnership with the Trustee to achieve this significant milestone for members of the Guilbert Plan. This transaction was a great advert for the benefits of teamwork; close collaboration with the teams at PwC, Mercer and Aviva meant that this transaction could be successfully delivered to tight timescales, ensuring positive member outcomes for the years to come.”
The Travers Smith team was led by Pensions Partners Niamh Hamlyn and David James with support from Consultant Sarah Boon, Senior Associate Tom Green and Associate Gaurav Srivastava.
