News and Views

Sole Trustee in the buy-in of the Fujitsu General (UK) Pension Plan

by Harus Rai, Head of Sole Trusteeship

Capital Cranfield has supported the Fujitsu General (U.K) Co. Limited Pension and Life Assurance Plan as Sole Trustee during its full buy-in transaction with Aviva. The buy-in secures defined benefit liabilities of £7.7m for all deferred Plan members and their dependants.

The transaction was carried out as part of a new covenant and security package for the Plan put in place by its sponsoring group and is a significant step forward in ensuring the long-term security of members’ benefits.

Peter Thompson who led the Capital Cranfield Sole Trustee team commented: We were delighted to be able to achieve this result for the beneficiaries of the Plan. It is vital that it remains possible to carry out small transactions such as this as well as the large ones which garner most publicity. We are grateful that our advisers and Aviva have been able to support this transaction so effectively.”