The Trustee of the Aston Martin Lagonda Pension Scheme has completed a £180m bulk purchase annuity buy-in with Aviva. The deal was completed in July 2026 and secures the benefits of around 540 pensioners and 1,050 deferred members.
“This is a fantastic result for the scheme’s members, achieved significantly ahead of expectations. A huge amount of thanks are due to Aviva, the team at LCP, and all our advisers to help us unlock an opportunity which may have otherwise been missed and to deliver long-term security for members’ benefits,” said Charles Ward, Chair of Trustee at Dalriada Trustees.
“Speed and certainty were critical to getting this transaction over the line and we were able to move at pace, helping the Scheme and its sponsor meet its objectives sooner than expected. This deal highlights the value of how a scheme’s approach to market is structured and LCP ran an effective process which allowed us to put our best foot forward to unlock an attractive opportunity for the scheme. We’re delighted to have been selected as a safe home for the scheme’s members,” added Kerry Foster, BPA Deal Manager at Aviva.
LCP acted as lead risk transfer and investment adviser to the trustee, with Burges Salmon providing legal advice on the transaction. Gallagher acted as scheme actuary and administrator to the trustee. Aviva’s legal advice was provided in‑house. PWC and Sackers provided advice to the scheme’s sponsor.
“It has been quite some journey for the Scheme; what was an aspirational transaction only a few months ago has rapidly turned into a hugely attractive opportunity which we are delighted to have helped secure for the Trustee. The Scheme benefited from a tailored market approach to help achieve its ambitions and it was a real team effort across the Trustee, sponsor and all advisers, allowing us to move swiftly and effectively when the opportunity was identified,” said Sam Jenkins, Partner at LCP.
