The Pearson Group Pension Plan publishes on its website:
“The Pearson Pension Plan (the Plan), a UK pension plan sponsored by Pearson plc, today announces that it has purchased a further pensioner buy-in policy with Legal & General Assurance Society Ltd (Legal & General) totalling approximately £500m. Together with two policies purchased in 2017, (with Legal & General and Aviva), approximately 50% of the Plan’s liabilities (approximately £1.8bn) are now insured.
The Plan’s strong funding position has allowed the Trustee to follow a strategy of reducing risk by aligning investments more closely with the pension benefits payable to members. This buy-in transfers further longevity risk to Legal & General, reducing the
pension risks being underwritten by Pearson and provides additional security for members. “
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