Gowling WLG Advised Trustee Of Ridsdale Pension And Death Benefit Trust In £7 Million Full Scheme Buy-In

Gowling WLG Advised Trustee Of Ridsdale Pension And Death Benefit Trust In £7 Million Full Scheme Buy-In

Gowling WLG team has advised the Trustee of Ridsdale Pension and Death Benefit Trust (Ridsdale) in a £7 million full scheme buy-in from Just Group (Just), securing the benefits of 30 members, consisting of 22 pensioners and eight deferred members.

This innovative transaction delivered a market first level of protection on key risks including guaranteed minimum pension (GMP) equalisation, buy-out date certainty and missing beneficiary cover for the Trustee, Ridsdale. The insurer-led data cleanse and GMP equalisation are designed to help accelerate readiness to buy-out and reduce potential costs associated with lengthy administrative processes.

Ben said, "This innovative transaction delivered a market first level of protection on key risks (GMP Equalisation, buy-out date certainty and missing beneficiary cover) for our Trustee client. We enjoyed working with the PWC team led by James Keates, the Hymans actuarial and XPS admin teams."

"The transaction required pragmatism and commerciality and my colleagues Sara Chambers and Grace Hall were instrumental in negotiating a comprehensive set of trustee protections in the contract with Just Retirement Limited. Close collaboration with Just and CMS led to a smooth project experience and delivery against tough deadlines. With Nadeem Ladha, one of the most creative and forward-thinking Independent Trustees in the market, leading a strong Aretas Sole Trustee team the members and the sponsor achieved a remarkable result and peace of mind for the future."

Gowling WLG is committed to driving innovation across pensions and financial services, delivering tailored legal solutions that meet the evolving needs of trustees, sponsors, members and providers. With extensive expertise advising on defined benefit (DB) and defined contribution (DC) schemes, pensions disputes and risk transfer strategies, Gowling WLG is uniquely positioned to guide clients through the complexities of today's dynamic pensions landscape.

The Gowling WLG was led by Ben Goldby (Partner), with valuable support from Sara Chambers (Partner), and Grace Hall (Associate).

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