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A team from European law firm Fieldfisher, led by pensions partner Jeremy Harris advised the Trustee of the Sibelco UK Occupational Scheme on the recent £165 million buy-in with Aviva. This included advising on the preparation of a detailed benefit specification and negotiating and agreeing contractual terms with Aviva.
The deal completed in April earlier this year, and this bulk annuity arrangement allows the Trustee to secure the benefits of 1,200 members in full, a vision and aim that was clear throughout the deal, which was an efficient and successful transaction.
The Fieldfisher team also included Derivatives & Structured Finance partner Sebastian Reger and lawyer Sam Andrew as well as pensions associate Katie Whelan, lawyer and trainee solicitor Lucy Hopwood.
Pensions partner Jeremy Harris said "Pensions are all about long-term financial security and I am delighted that Fieldfisher has been able to play its part in this multi-million pound deal to provide long-term financial security for over a thousand members of our client's pension scheme."