Linklaters advises One Stop Stores Trustee Services Limited on transfer to Legal & General WorkSave Mastertrust (RAS)

Linklaters has advised the trustee of the One Stop Stores Pension Scheme on a bulk transfer of assets to the Legal & General Mastertrust. The transaction completed in the last quarter of 2020.

The transaction is set to improve the retirement outcomes of many present and former One Stop employees, who will benefit from the economies of scale that a Master Trust can offer. It reflects a growing trend in the pensions industry for employers and trustees of defined contribution occupational pension schemes to consider using Master Trusts as their preferred retirement savings vehicle for employees and scheme members.

The Linklaters team was led by pensions partner, Rosalind Knowles and included managing associates Alan Cadman and Gareth Craft.

The transfer is just one example of a number of similar transactions on which the firm’s pension practice has acted. For example, this has included advice to the trustee of the British American Tobacco UK Pension Fund on a bulk transfer to the Aegon Master Trust, and advice to the trustee of the Rentokil Initial Pension Scheme on a bulk transfer to the Fidelity Master Trust.