The Epson Telford Limited Pension & Life Assurance Scheme has completed a £50m full scheme buy-in with Pension Insurance Corporation (PIC), securing the benefits of 368 pensioners and 493 deferred members.

The scheme received advice from Barnett Waddingham and Pinsent Masons, while PIC received legal advice from Herbert Smith Freehills. EY was the lead risk settlement adviser for the transaction.

Commenting on the deal, Trustee Solutions Limited director and sole corporate independent trustee of the scheme, Tristan Mander, said: “This transaction brings long-term security to the scheme members’ benefits. Our advisers did a great job in delivering a solution that met all our requirements.”

Adding to this, PIC origination actuary, Adam Dann, said: “The trustees and the company were well prepared, which allowed them to move quickly and enabled them to meet the company and trustee’s objectives and also to take advantage of market movements and insure their liabilities within their target range.”

EY partner, Eimear Kelly, said: “Significant preparatory work and planning coupled with the flexibility and experience of PIC enabled a smooth transaction under accelerated timescales, meeting the objectives of both the company and the trustees.”

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