CMS advises the WH Smith Pension Trust on £1bn buy-in with Standard Life

International law firm CMS has advised the Trustee of the WH Smith Pension Trust on a £1bn residual risks buy-in with Standard Life, part of the Phoenix Group. 

The £1bn bulk purchase annuity arrangement allows the Trustee of WH Smith’s defined benefit pension scheme to secure the benefits of its c. 13,000 members.

CMS Pension partner Maria Rodia, who led the team, commented: “We are delighted to have advised the WH Smith Trustee on this deal and helped the Trustee to reach such a positive outcome for the members. This is the latest in series of high profile deals the team has advised on and strengthens CMS’ market-leading position in the pensions de-risking market.”

The CMS team also included Katie Millard, Tom Bates, Miranda Bond, Akil Hunte, Joe Allen, Connie Fan and James Parker.

This is the latest in a series of high-profile deals for the CMS Pensions team, who most recently advised the Trustee of De La Rue Pension Scheme in relation to its £320m buy-in with Scottish Widows and The House of Fraser Trustee on its £600m buy-out transaction with Pension Insurance Corporation.