Sackers advises Air Canada Scheme on £380m pension deal

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By Irene Madongo (March 22, 2022, 6:34 p.m. GMT) — Pension Insurance Corporation said on Tuesday it had signed a buyout agreement with the trustee of Canada’s flag carrier UK pension scheme, covering 380 million pounds ($503 million) in liabilities for around 1,400 scheme participants.

The agreement between the insurer of the defined benefit pension funds and the pension trust fund of Air Canada (UK) means that the trustee has been able to significantly reduce the risks of the scheme, providing greater safety to deferred members, PIC said.

Sackers advised Air Canada’s scheme. PIC was advised by Addleshaw Goddard.

Joe Hathaway, a senior consultant at professional services firm Aon, who advised…

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