Sackers advises the Nationwide Pension Fund on its £172m buy-in

Nationwide Pension Fund has completed a £172m buy-in with Canada Life for pensioner members in its Cheshire and Derbyshire section.

Catherine Redmond, chair of trustees, welcomed the buy-in, stating: “We as a trustee board are delighted to have taken this substantial step on our long-term derisking journey. We are grateful to Sackers for their support.”

Partner Ian Cormican led the Sackers team on the transaction and commented: “We are very pleased to have had this opportunity to apply our in-depth knowledge of the Fund, together with our significant risk transfer experience, to help bring this transaction to a successful conclusion. The excellent preparation by and collaboration between all parties and advisers achieved a great outcome in derisking the Cheshire & Derbyshire Section of the Fund.”