Under the terms of the deal, the bulk purchase annuity transaction will cover benefits for all deferred and pensioner members of the Scheme, thereby increasing the security of their benefits since they are now backed by a regulated insurance company.  Hogan Lovells led the work on preparation and negotiation of the benefit specification.

The Hogan Lovells team was led by London-based Pensions partner Edward Brown with support from Counsel Judith Crate.

Commenting, Edward Brown said: “Ford is a significant and longstanding client of the firm, so we are proud to have helped support the Trustee in securing these benefits”

The Trustee was also advised by Mayer Brown.