A Wedlake Bell team, led by Partner Justin McGilloway and included Senior Associate James Newcome have advised the Trustees of the Telereal Pension Plan, sponsored by Telereal Services Limited, on a £130M bulk purchase annuity full plan buy-in with Aviva. This buy-in will insure the defined benefit liabilities for around 500 members.
TTG (formerly Telereal Trilium) is a UK privately owned property investment and development firm with a portfolio comprising over 15,000 properties.
The Trustees of the Telereal Pension Plan is a longstanding client of Wedlake Bell and we continue to advise them on the move towards a full plan buy-out.
“Carl Clissold, chair of trustees of the Telereal Pension Plan, said: “The trustees are delighted to have reached this significant milestone for the members and would like to thank Justin and all the team at Wedlake Bell for their contribution in closing this transaction within such a short timescale.”