L&G Flow solution passes £1bn mark in smaller pension scheme deals

Legal & General (L&G) has reached over £1bn of pension scheme liabilities secured through its Flow solution since launch, with £360m completed in 2025. 

Transactions this year ranged from £2m to more than £80m, showing Flow’s ability to support a wide range of pension schemes. 

Since the solution was introduced in 2023, L&G has completed Flow transactions with 62 pension schemes, covering benefits for over 10,000 members.

Flow is aimed at smaller pension schemes and is designed to make it easier for them to access de-risking solutions. 

Out of 23 Flow transactions completed this year, 17 involved clients of L&G’s asset management business who used their unit funds as premium payment, which removed market risk, cut asset restructuring costs, and improved efficiency.

Each transaction is managed by a dedicated post-sale client service team who handle onboarding, data cleansing, and payroll matching to align with existing processes.

Legal & General has completed over £11bn of pension risk transfer transactions globally this year, including £10bn in the UK. 

Other deals included a £4.6bn buyout with Ford and a buy-in worth around £1.6bn with the BP Pension Fund.