WCF Ltd Scheme completes £7.2m buy-in with L&G

The WCF Ltd Staff Retirement Benefits Scheme has completed a £7.2m buy-in with Legal & General (L&G), securing benefits for its remaining 122 deferred members.

Eversheds Sutherland acted as legal adviser on the transaction, with BESTrustees serving as the professional trustee.

The sponsoring employer, WCF Ltd, a UK-based logistics, retail, e-commerce, and leisure company, and BESTrustees appointed Gallagher as lead adviser at the start of 2025.

Gallagher subsequently supported the transaction in multiple capacities, acting as a risk transfer broker, scheme actuary, and providing consultancy on investment and administration matters.

WCF Ltd executive chair, Jo Ritzema, commented on the deal: “We’ve worked in partnership with the professional trustee and advisers from Gallagher over many years to reach this successful outcome.

"Transferring risk to a reputable insurer like L&G not only safeguards members’ long-term benefits but also reinforces the financial stability that’s central to our values as an employee-owned business.”

BESTrustees professional trustee, Ann Rigby, added that the outcome was a "privilege" and a "great example" of how collaboration could drive speed and efficiency in buy-in transactions.”

Gallagher head of risk transfer, Mark van den Berghen, agreed, describing the deal as "a successful buy-in delivering a favourable outcome."

He noted the impact of all parties working in lockstep, which enabled a smooth process and continuity with past transactions.

Eversheds Sutherland legal adviser to the trustee, Amanda Small, also commented: “We are pleased to have supported the trustee on this fast-paced and streamlined transaction.

"In today’s busy bulk annuity market, this deal shows how using standard insurer terms and a collaborative approach can deliver excellent outcomes for schemes, trustees, sponsors and members alike.”



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