The Trustees of the Royal Horticultural Society 1974 Pension Scheme have completed a c.£22m bulk purchase annuity transaction with Royal London, securing the benefits of 230 members.
“We are delighted to be partnering with Royal London on this important step for the Royal Horticultural Society 1974 Pension Scheme. Royal London’s expertise, professionalism and collaborative approach have been evident throughout the process, giving us confidence that our members’ benefits will continue to be supported by a strong and trusted insurer,” said Ingrid Fernandes, Director of Finance for RHS and on behalf of the trustee.
“This transaction represents an important milestone for both the Scheme and the RHS. By increasing certainty around the charity’s future pension obligations and strengthening the long-term financial sustainability, it supports our ability to focus on delivering our charitable mission. This includes continued investment in our world-renowned gardens, scientific research, educational programmes and our work to inspire more people to garden and connect with nature.”
“This buy-in with the Royal Horticultural Society 1974 Pension Scheme brings together two organisations with a strong sense of purpose and hundreds of years of history,” added Beatrice Male, BPA Origination Lead at Royal London.
“That shared perspective was clear from our first engagement with the trustees and helped us deliver a bespoke solution to meet their objectives. We’re proud to have earned their trust and look forward to delivering the high-quality service and stewardship their members deserve for many years to come.”
The Trustees were advised by XPS and Stephenson Harwood.
“We are pleased to have led the trustees and the RHS through the transaction, which has resulted in improved security for the members of the scheme at a competitive price. The scheme had a number of complexities to consider but the collaborative work of the trustees, the RHS and the advisory team has led to an excellent outcome with an insurer that puts customer service first, which was one of the key criteria for the trustees,” said Ash Williams, Partner at XPS.
