THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
CX
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Uncategorized
Retail Events
People in Retail Awards 2024
THE Retail Conference
Retail HR North 2025
Retail Ecom North
Omnichannel Futures 2025
Retail HR Central 2025
The Future of The High Street 2025
Retail Ecom Central
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Boots secures £4.8 billion full buy-in with Legal & General for pension scheme

Boots has struck a deal with Legal & General in which liabilities for its pension scheme will be switched to the insurance firm. The health and… View Article

HEALTH AND BEAUTY NEWS

Boots secures £4.8 billion full buy-in with Legal & General for pension scheme

Boots has struck a deal with Legal & General in which liabilities for its pension scheme will be switched to the insurance firm.

The health and beauty retailer, which is the trustee of the Boots pension scheme, has agreed a £4.8 billion buy-in policy with Legal & General. The buy-in insures all 53,000 members in the Boots Pension Scheme, making it the largest single transaction of its kind.

Boots said it had explored all options for the scheme but concluded that the transaction with Legal & General was the best way to safeguard members’ benefits against market uncertainty, improved life expectancies, and other risks.

Alan Baker on behalf of Law Debenture, as chair of trustee, Boots Pension Scheme, said: “This agreement with Legal & General gives added protection to our members’ long-term benefits by removing market uncertainty and other financial exposures.”

Sebastian James, senior vice president and managing director of Boots, added: “We are very pleased to have achieved the gold standard outcome for our pension scheme and to have fully secured the benefits of all members with a highly respected insurer. This will provide greater certainty to both the scheme members and to Boots, and is an excellent outcome for both parties.”

Subscribe For Retail News