Reach plc

263

£120m

Full buy-in

Uninsured liabilities of the scheme (c90% deferred) were fully insured in less than 3 months
Certainty provided using a price lock mechanism until transaction signed
Reach plc able to restructure its business

We are delighted to have now secured the pension benefits for all members of our scheme, achieving our goal of providing members with long-term security. It is a testament to the expertise of our advisers and Rothesay’s ability to move quickly that we were able to meet the ambitious timetable required to achieve this positive outcome.
John Pannett, Chair of the Trustee for West Ferry Printers Pension Scheme

Highlights

Background
Price certainty and a quick transaction were required as part of a wider business restructuring. LCP led the transaction on behalf of the scheme.
Creating certainty
We created certainty by offering a transparent price-lock mechanism.
Moving quickly
The Trustee sold its equity holdings to partially stabilise the funding shortfall early.
We provided an attractive transactable price within four weeks of receiving data.
The Trustee moved quickly to sell its remaining return-seeking assets and restructured its LDI portfolio to align with Rothesay’s price-lock.
Contractual documentation was agreed and signed swiftly.