Legal & General Assurance Society Limited has agreed to a £400 million buy-in with the TT Group (1993) Pension Scheme, securing the benefits of circa 5,000 retirees and deferred members.
The sponsoring company, TT Electronics plc, is a global provider of design-led, advanced electronic technologies in aerospace and defence, healthcare and automation and electrification markets.
Both TT Electronics and TTG Pension Trustees Ltd worked together for a number of years to prepare the Scheme to secure benefits with an insurer.
TT Electronics plc (LON:TTG) is a provider of engineered electronics applications for performance-critical applications. The Company works with customers in the industrial, medical, aerospace and defence, and transportation sectors.