Northern Bank Pension Scheme agrees £680m buy-in with Pru

clock

The Northern Bank Pension Scheme has entered into a £680m buy-in with Prudential, marking the largest bulk annuity deal agreed so far this year.

The transaction, which was advised on by LCP, covered the majority of the scheme's current pensioner and dependent members, and included a flexible provision to add new retirees to the policy in fu...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Risk Reduction

Panasonic scheme secures £140m buy-in with M&G

Panasonic scheme secures £140m buy-in with M&G

‘Streamlined’ transaction secures the benefits of around 650 scheme members

Holly Roach
clock 24 March 2026 • 2 min read
Phoenix Medical Supplies scheme secures £30m buy-in with Canada Life

Phoenix Medical Supplies scheme secures £30m buy-in with Canada Life

Full scheme buy-in secures the benefits of over 145 pensioners and 80 deferred members

Holly Roach
clock 23 March 2026 • 2 min read
Exclusive: M&G says BPA with-profits proposition to be 'core' market offering

Exclusive: M&G says BPA with-profits proposition to be 'core' market offering

Kerrigan Procter says insurer expects to transact £3bn-£4bn of BPA volumes by 2027

Martin Richmond
clock 23 March 2026 • 2 min read
Trustpilot