14 May 2020

Leonardo is one of the UK’s leading aerospace companies and defence and security equipment suppliers. Its pension scheme for those in its electronics, defence and security systems divisions has assets in excess of £1 billion.

The transaction sees Leonardo Electronics Group Pension Scheme complete the £160 million buy-in with specialist UK financial services group Just Group, benefitting the 1,253 UK pensioners covered by the scheme.

Burges Salmon partners Richard Knight and Alice Honeywill led the team advising on the transaction with support from associate Charlotte Osmond and solicitor Heather Musk.

Richard comments: “It’s a turbulent time for the financial markets, so we’re very pleased to have worked with Leonardo and its trustees to bring this buy-in with Just Group to a successful conclusion and to secure the benefits of the scheme’s pensioners.”

Key contact

Richard Knight

Richard Knight Partner

  • Head of Pensions Practice
  • Pensions Services
  • Pensions Legal Advice

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