Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Pay & benefitsPensions

Lane Clark & Peacock advises Cable & Wireless on pension scheme bulk annuity contract

by Personnel Today 4 Sep 2008
by Personnel Today 4 Sep 2008

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

Lane Clark and Peacock (LCP), the leading actuarial consultancy, has advised Cable & Wireless plc on a bulk annuity insurance contract which transfers exposure to just over £1bn of defined benefit pension liabilities to the Prudential.

Individual members will not see any changes to their benefits, but the risks associated with paying benefits to current pensioners will be borne by the Prudential rather than the Cable & Wireless Superannuation Fund.
 
Clive Wellsteed, partner at LCP said: “We are pleased to have advised Cable & Wireless in this landmark transaction. It broadly halves the size of Cable & Wireless’ exposure to pension scheme liabilities. This improves security for members and is economically attractive for shareholders.
 
“Today’s deal is the largest ever and follows a string of such transactions. It is a big vote of confidence in the market for passing pension risk to insurance companies. Earlier this year we predicted £10bn of deals would close in 2008 – the market is well on track for this.
 
“Looking ahead, the attractive deals are still out there – it’s just the insurance companies have finite capacity to complete transactions.”

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

previous post
Blend of expertise to improve organisational performance
next post
Controlling skin exposure to chemicals and wet-work: a practical book

You may also like

Workers with second jobs at an all-time high

11 Jul 2025

Firms’ salary secrecy means ‘they lose out on...

10 Jul 2025

NHS 10-year Health Plan sets out vision for...

3 Jul 2025

Living wage pushes up spring pay settlements

2 Jul 2025

Why bosses must set pay independently

2 Jul 2025

Reforming paternity leave could benefit UK by £13bn...

30 Jun 2025

Bank of England says NIC rise is dampening...

27 Jun 2025

Graduate pay versus the living wage: an HR...

25 Jun 2025

Pensions regulator: make sure summer staff don’t miss...

18 Jun 2025

Pension Schemes Bill should be ‘hugely beneficial’ for...

5 Jun 2025

  • Empower and engage for the future: A revolution in talent development (webinar) WEBINAR | As organisations strive...Read more
  • Empowering working parents and productivity during the summer holidays SPONSORED | Businesses play a...Read more
  • AI is here. Your workforce should be ready. SPONSORED | From content creation...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+