National Grid UK Pension Scheme takes derisking with Rothesay to £3.6bn
The National Grid UK Pension Scheme ("the Scheme") has completed an approximately £800m buy-in transaction with Rothesay. The transaction, which follows a £2.8bn buy-in with Rothesay in 2019, takes the total level of derisked liabilities with Rothesay to £3.6bn.
Following 2019’s transaction, Rothesay put in place a monitoring process for the Scheme that allowed it to execute a buy-in for this tranche of liabilities as soon as market pricing and Scheme funding allowed.