The Trustees of the Delcam Retirement Benefits Scheme have completed a £28m full-scheme bulk purchase annuity buy-in transaction with Royal London. The deal secures the benefits of 171 scheme members.
“On behalf of the trustees, we are pleased to have completed this transaction with Royal London. This buy-in helps to provide certainty to our members about the security of their benefits and represents a pivotal moment in the Scheme’s de-risking journey,” said Elizabeth Kwong, Chair of the Trustees of the Delcam Retirement Benefits Scheme.
“Securing the right outcome for members was at the heart of this transaction. So, it was a pleasure to work with the Trustees of the Delcam Retirement Benefits Scheme and Aon to deliver a solution that provides members with long-term security and meets the scheme’s wider objectives,” added Victoria Smith, BPA Origination Manager at Royal London.
“This transaction is another great example of what can be achieved at any buy-in transaction size through close collaboration and a shared focus on delivering positive outcomes for Trustees and their members.”
The trustees were advised by Aon as risk transfer adviser and received legal advice from Squire Patton Boggs.
“Aon has advised the scheme for many years, and it is extremely satisfying to have guided the trustees through the preparation, broking and execution process to achieve a transaction that meets a wide range of objectives,” said David Thompson, Associate Partner at Aon.
