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Pension Funds

Aliaxis insures £50 million in liabilities in buy-in for U.K. pension fund

Aliaxis U.K. Defined Benefit Pension Scheme, Lenham, England, insured 50 million ($67 million) in liabilities through a buy-in transaction with Just Group, said a spokesman for Willis Towers Watson, which advised the pension fund.

The transaction follows an initial 35 million buy-in completed for the pension fund by the pipe systems manufacturer in November 2016, also with Just Group.

"Following the success of the first buy-in transaction, the trustees were happy to continue our partnership with Just. The second transaction has further increased the security of our (participants') benefits at a price that was very attractive to the trustees," said trustees of the Aliaxis pension fund in a news release.

The U.K. assets of Aliaxis pension fund could not be learned by press time. Aliaxis' total pension obligation amounted to €372 million ($438 million) as of May 28.