The Trustees of the F.Hinds Pension Fund have completed a £42m bulk purchase annuity (BPA) transaction with Royal London, securing the pensions of 485 members.
“We are delighted to have completed a full buy-in of the fund, securing all members’ benefits for the future. The trustees selected Royal London based on the strength of their proposal and the alignment of their values with F.Hinds. We are grateful to LCP and Addleshaw Goddard, working with our advisers ISIO and Burges Salmon, for their support in achieving this outcome,” said David Hinds, Chair of Trustees.
“F.Hinds’ heritage, long-standing commitment to responsible stewardship, and family ownership closely aligns with Royal London’s own values as a customer-owned business. This was brought to life when we met the trustees at the F.Hinds office in Uxbridge, surrounded by powerful reminders of the business’ enduring focus on their customers and staff for the past 170 years,” added Mark Sharkey, BPA Origination Manager at Royal London.
“This transaction further strengthens our growing track record of partnering with trustees and advisers to deliver tailored solutions regardless of pension scheme size.”
This is the second transaction that Royal London has completed via LCP’s streamlined service in the past six months. LCP acted as the risk transfer adviser to the trustees and Addleshaw Goddard provided legal advice on the transaction. Isio acted as scheme actuary and investment adviser to the trustees.
“I am proud to have led this transaction, helping the Trustees to achieve an important milestone for the Fund. This is our second transaction with Royal London through LCP’s streamlined service and is another great example of the attractive pricing and terms that can be secured for schemes of this size through the right process,” said Rachel Hirst, Partner at LCP.
