Marie Curie defined benefit pension scheme, London, completed a buyout of about £30 million ($41 million) with Legal & General Assurance Society.
The buyout covers all liabilities of the about £30 million pension fund, confirmed Stephen Purves, partner at Aon which advised the trustees on the deal.
The pension fund is an existing client of Legal & General Investment Management, with the firm running a portion of the assets since 2010.
"Following a competitive bidding process using Aon's pathway service, the trustees were able to quickly lock into attractive pricing — demonstrating the benefits of preparation, good governance and the use of a streamlined auction process. It is great news that the trustees and Marie Curie have completed this major milestone in their journey to buyout," Mr. Purves said in a L&G news release.