The Church of England Pensions Board has completed a £100m buy-in with Prudential.
Under the bulk annuity insurance policy, Prudential will make payments to the fund to match 70% of the payments the fund makes to certain pensioners.
Dr Jonathan Spencer, the Church of England Pensions Board chairman, said that as a result of a "smooth and efficient process", the trustees came to a "successful outcome", which allowed them to secure "very good terms" with an insurance provider.
Lane Clark Peacock (LCP) was the lead adviser to the pension fund and advice was also provided by Linklaters.
Ken Hardman, LCP partner, said: "We helped the trustee identify the portfolio of liabilities they wished to insure and run an effective selection process to maximise value."
He added: "The market continues to be buoyant and we expect to see a number of high profile transactions complete over 2014."
First published 11.03.2014
monique_simpson@wilmington.co.uk
