Aviva has today announced the completion of a £4.8m bulk purchase annuity buy-out with the A Gomez Limited Retirement Benefits scheme. The buy-out transaction was completed in January 2025, with the buy-in having taken place in July 2024. Apex Pension Trustees are the sole trustee and XPS Group advised on the transaction.
The deal is the latest in a series completed through Aviva Clarity, the insurer’s streamlined service, that simplifies and expediates the transaction process, making the BPA market more accessible for smaller schemes.
“Thanks to excellent preparation by the trustees and their advisers at XPS, this was an incredibly well run and collaborative process, which helped it move at pace. Our Aviva Clarity process enabled the deal to be processed efficiently straight through to finalisation, which made for a seamless transaction,” said Emma Thomas, BPA Deal Manager at Aviva.
“Apex were appointed to the scheme in November 2023, and shortly afterwards the sponsoring employer went into administration. The focus turned to ensuring full benefits were secured for members in the scheme, in a short time. The swiftness of data diligence undertaken with Burges Salmon and XPS, along with Aviva’s streamlined Clarity service, were vital to a quick and seamless transaction. From a standing start, we have moved through data cleanse, quotation phase, buy-in to buy-out in less than a year. It shows what can be done if you surround yourself with motivated people and I extend my thanks to all involved at Aviva, XPS and Burges Salmon for a positive experience,” said Nigel Modlinsky of Apex Pension Trustees.
“We were delighted to lead on this high-speed and efficient bulk annuity process and help deliver a great outcome for scheme members. Aviva’s Clarity service significantly reduced the timescales, and the meticulous data preparation led to a decisive and well-planned transaction,” said Harry Harper, Partner, Risk Settlement, XPS Group.