Aviva has announced a £165m bulk purchase annuity full scheme buy-in with the Sibelco UK Occupational Pension Scheme. The deal, completed in April 2024, secures the benefits of all of the around 1,200 members of the scheme in full.
“In today’s climate it’s more important than ever for schemes to be well-prepared when approaching the market,” said Toby Holmes, Senior Deal Manager at Aviva.
“This process has highlighted just how quickly and smoothly a transaction can run when it follows a well thought-out and crisply executed transaction process. The trustees had a clear strategy to secure member benefits, and their vision, when supported by highly experienced advisers, has made for an efficient and successful transaction,” Holmes added.
“We are pleased to be able to secure our members’ benefits with an experienced, well-regarded insurance company. We are confident that Aviva will provide a good long-term home for our members’ benefits,” said John Bannister, representing Capital Cranfield, Chair of Trustees for the scheme.
