U.K. Real Estate Firm Insures its Pension

February 4, 2010 (PLANSPONSOR.com) – U.K. buyout company Pension Insurance Corporation said it will insure the pension liabilities of Liberty International as it seeks to reduce risks in its pension plan, Reuters reported.

Pension Corp said that in return for fully insuring the plan’s liabilities it will receive assets amounting to 61 million pounds ($96.84 million), comprising 46 million pounds in plan assets and 15 million pounds in an additional company contribution.

“Pension Insurance Corporation offers a strong proposition in securing member benefits for the long term,” said David Bramson, Chairman of Liberty’s trustees, according to Reuters.

Liberty International is one of the U.K.’s largest listed real estate companies and is a FTSE 100 company.