Led by partners Marcus Fink and Liz Ramsaran, DWF advised the trustees of the Princes Pension Scheme and the Princes (1977) Pension Scheme. This exercise was the culmination of a significant exercise by the Trustees in securing the benefits in these legacy pension arrangements with numerous member categories.
Marcus Fink, Head of Pensions at DWF said: "The buy-in was a complex transaction given the number of membership categories and structure of the schemes' governing documentation. Our team worked seamlessly with the trustees and other advisors to deliver the buy-in within an aggressive time frame in order to take full advantage of market conditions."
Stephen Cardall, Chair of Trustees to both schemes said: “The agreement with Aviva gives protection to our members’ long-term benefits by substantially removing market uncertainty and other financial exposures. As a result, the Princes defined benefit schemes will afford greater security to their members and pensions will be protected for the foreseeable future."
