Macfarlanes advises Legal & General on £250m buy-in with Selecta UK Pension Plan

23 September 2021

Macfarlanes has advised long-standing client Legal & General Assurance Society Limited on its £250m buy-in transaction for the members of the Selecta UK Pension Plan.

The transaction secures the benefit payments of approximately 1,000 pensioners and 1,000 deferred members.

The pension plan has an existing affiliation with Legal & General, having worked with Legal & General Investment Management as its asset manager since 1992. 

The Macfarlanes team was led by insurance partner Andrew Barton with assistance from senior solicitor Madison Isted and solicitor Alexander Cibulskis.

Andrew Barton comments: “We are pleased to have supported Legal & General on this transaction and to have worked with all those involved to ensure a smooth negotiation and execution.”