The Fuller’s Defined Benefit (DB) Pension Plan has secured a full buy-in with Legal & General (L&G), following recent funding improvements.

According to a business update from the group, the scheme trustee and the company were keen to move to a full buy-in “swiftly” given recent improvements in the funding position.

The company highlighted the deal as demonstration of the financial strength of the business, noting that the buy-in will also reduce its exposure to future liabilities.

Commenting on the update, Fuller’s chief executive, Simon Emeny, said: “With just two weeks to go, we have had a very strong year.

“We are confident of meeting market expectations for the full year and are taking appropriate actions to manage the impact of forthcoming market challenges.

"We remain confident and optimistic about the future for our business and will continue to allocate capital to drive long-term growth and returns for shareholders.”

This article was first published on our sister title, Pensions Age.

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