William Hill Assures All Responsibilities, Boarding Accepts Full Membership – DB & Derisking


Risk monitoring: A roundup of the latest risk mitigation deals, including the William Hill Program deal with Rothesay and the Gordonstoun School’s full membership of Legal & General.

William Hill program completes £290m buy-in

The William Hill pension scheme, with a defined benefit section of around £472.2m and a defined contribution section of around £192m, has completed a buyout transaction for £290m with Rothesay. The scheme purchased the global annuity policy on June 28, 2021, covering the liabilities of 1,188 retirees and dependents and 773 deferred members. This is the second takeover for the scheme following a £180m deal completed in 2018 with Just Group. Together, the two redemptions insure all of the plan’s DB liabilities. Program sponsor Caesars Entertainment, which acquired William Hill in early 2021, pumped around £10million into the buy-in, according to a letter to members posted on the program’s website.

This article originally appeared on MandateWire.com

The boarding school program accepts full membership

The Gordonstoun School Retirement Benefits Scheme has agreed a full £6.6 million buyout with the Legal & General Assurance Society. The agreement secures pension benefits for around 30 deferred members and 65 retirees and was completed in March 2022. Pamela Muir, administrator and bursar at Gordonstoun School, said: “The benefits accrued in the scheme are now secured by the force of a large insurance company and, in order to guarantee this result, Gordonstoun made a significant financial contribution. Barnett Waddingham advised the trustees on the transaction, while DWF LLP provided legal advice.

This article originally appeared on MandateWire.com


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