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.”



Share Story:

Recent Stories


A changing DC market
In our latest Pensions Age video interview, Aon DC senior partner and head of DC consulting, Ben Roe, speaks to Laura Blows about the latest changes and challenges within the DC sector

Being retirement ready
Gavin Lewis, Head of UK and Ireland Institutional at BlackRock, talks to Francesca Fabrizi about the BlackRock 2024 UK Read on Retirement report, 'Ready or not. How are we feeling about retirement?’

Podcast: Who matters most in pensions?
In the latest Pensions Age podcast, Francesca Fabrizi speaks to Capita Pension Solutions global practice leader & chief revenue officer, Stuart Heatley, about who matters most in pensions and how to best meet their needs
Podcast: A look at asset-backed securities
Royal London Asset Management head of ABS, Jeremy Deacon, chats about asset-backed securities (ABS) in our latest Pensions Age podcast

Advertisement