The trustee of the Essentra Pension Plan (Essentra section) has completed a bulk purchase annuity buy-in with Aviva. The deal secures the benefits of both deferred and pensioner members and was completed in January 2026.
This is the second transaction between Aviva and the plan’s trustees, following the 2022 buy‑in of the Senior Staff section.
“We are delighted to have completed a further buy-in with Aviva, which secures the benefits for all our remaining defined benefit members. The early preparation work carried out across our advisory team allowed us to accelerate our original project timescales and we were able to transact quickly and confidently, running a very competitive bidding process, culminating in a transaction with Aviva,” said Liz Fallon, Chair of Trustees at the Essentra Pension Plan.
“Following a positive experience with Aviva on the Plan’s Senior Section, it is particularly pleasing that we have now also been entrusted with delivering long-term security for the Main Plan. The Trustees’ clear objectives, thorough preparation and collaborative approach helped ensure another smooth and efficient process. Once again, it’s been a pleasure to work with the Trustees and their advisers,” added John Fothergill, Senior Deal Manager at Aviva.
XPS Group acted as lead adviser to the trustee, with Squire Patton Boggs providing legal advice. Aviva’s legal advice was provided in‑house.
“This is a great result for all parties and builds on the success of the buy-in for the Plan’s Senior Section. The key to this transaction was the collaborative working across all the Plan’s advisers, which allowed us to move quickly to capture the favourable conditions we are seeing in the market right now. We are delighted to have led on the advice to the Trustee and to have secured such a great outcome for the Plan’s members,” said David Lambert, Senior Risk Settlement Consultant at XPS Group.
