Tate & Lyle reduces pension risk

Sweeteners and food products giant Tate & Lyle has agreed to a 347m-pound partial pensioner buy-in which covers nearly half of its total pensioner liabilities.

Sweeteners and food products giant Tate & Lyle has agreed to a 347m-pound partial pensioner buy-in which covers nearly half of its total pensioner liabilities.

The firm said that the trustee of the its group pension scheme has made the agreement with financial services giant Legal & General about the buy-in which covers around 43% of its commitments, "which effectively hedges these liabilities in full".

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