Matheson and Herbert Smith Freehills lawyers address businesses on bulk annuities

John O'Brien, Jane McKeever, Samantha Brown, Rachel Pinto and Darren Maher
Pictured (l-r): John O’Brien, Mercer; Jane McKeever, Matheson; Samantha Brown, Herbert Smith Freehills; Rachel Pinto, Herbert Smith Freehills; and Darren Maher, Matheson.

Lawyers from Matheson and Herbert Smith Freehills recently addressed businesses on the use of bulk annuities to reduce risk in defined benefit pension schemes.

The event, co-hosted by the law firms and consulting firm Mercer, examined how factors including ongoing market volatility, historically low interest rates and increased longevity have increased the risks connected with defined benefit scheme funding.

This, in turn, has led to significantly increased interest in liability management exercises, including bulk annuity transactions, in the Irish market.

Speakers at the event on Friday discussed the advantages and disadvantages of bulk annuity transactions and shared their experiences in relation to recent transactions that have been entered into across the UK and Ireland.

Jane McKeever, senior associate in Matheson’s employment, pensions and benefits group, said: “We hope that bringing together a group of experts to discuss this topic will allow employers, trustees and insurers to build on their understanding of what is involved in these transactions and how best to prepare for them.”

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