The Lincolnshire Co-operative Pension Scheme has completed a £107m bulk purchase annuity buy-in with Rothesay. The transaction secures the benefits for approximately 2,300 members.
“Completing this buy‑in significantly strengthens the security of pensions for the Scheme’s members. Our priority has always been to provide security and peace of mind, and this transaction delivers on that commitment. We’re grateful to the Society for its ongoing support,” said Jim Robson, Chair of the Scheme Trustee and Trustee Director at Vidett.
“We are pleased to have completed this buy-in with the Trustees, marking an important milestone for the Scheme and its members. This reflects our commitment to providing long-term financial security and high-quality service to trustees and their members,” added Simon Bramwell, Business Development at Rothesay.
Hymans Robertson acted as risk transfer advisor to the Trustees, with legal advice provided by Womble Bond Dickinson.
“We are pleased to have supported the Trustees and Society on this important step towards securing the benefits for over 2,300 members. The collaborative approach and thorough preparation ensured a successful outcome that delivers a secure retirement for members and aligns with the Scheme’s long-term objectives,” said Mahad Farooqui, Risk Transfer Specialist at Hymans Robertson.