The Finnair Oyj Retirement Benefit Scheme has secured a £4m full scheme bulk purchase annuity buy-in with Aviva. The scheme is sponsored by Finnair Oyj, the flag carrier and largest airline of Finland.
The buy-in, conducted using Aviva’s Clarity service, was completed in October 2025, with support provided by the sponsor to secure the full benefits of the 20 remaining uninsured members.
“Broadstone and Arc worked quickly and diligently with Aviva to prepare the scheme so it was suitable not just for the initial buy-in but to be in a position to convert it rapidly to the buy-out afterwards – an incredible result that will save the scheme significant ongoing costs. The trustee is thankful for the contribution made by the company which allowed the transaction to proceed, and I am confident that our members will be given the best possible service from Aviva in the future,” said Nick Boyes, Trustee Director.
“This transaction is a great example of the benefits of our Aviva Clarity service and the Fast-track option for schemes moving rapidly to buy-out. The process worked seamlessly, thanks to excellent preparation by Broadstone and the trustee, and meant we were able to move from buy-in to buy-out in under two months. This speed means less complexity for trustees and more time for our teams to focus on what matters: providing a smooth and high-quality experience for scheme members,” said Andrew Shaposhnikov, Senior Business Development Manager at Aviva.
Broadstone acted as annuity broker, adding to their longstanding appointment as scheme actuary, investment consultants and administrator. Legal advice for the trustees was provided by Arc Pensions Law and was provided in-house for Aviva.
“This was a perfect example of how Broadstone’s full-service approach to a buy-in using the SM&RT Insure approach leads to excellent outcomes. Working seamlessly with the scheme actuary and the administration team meant we were able to present a perfectly prepared scheme for the transaction. Collaborating with Aviva’s implementation team ensured a record turnaround time of two months to finalise the buy-in and move the Scheme rapidly to buy-out,” said Mark Channon, Senior Actuarial Director and Deal Lead at Broadstone.
