The Smiths Industries Pension Scheme has secured a £176m buy-in with Canada Life, its second with the insurer.
The buy-in is approximately 6% of the £3bn scheme's liabilities, and is Canada Life's first announced deal of 2019. The scheme has now conducted three buy-ins across two insurers, and took advantage...
The Co-operative Pension Scheme (Pace) has agreed a £1bn buy-in with Pension Insurance Corporation (PIC), insuring benefits for around 7,000 members.
There have now been a total of over 50 buy-in and buyout deals of over £500m announced since 2007. The full list is as follows...
Allied Irish Bank (AIB) has secured an £850m buy-in for its UK pension scheme with Legal & General (L&G).
The trustees of the £3bn Merchant Navy Officers Pension Fund (MNOPF) have secured £1.6bn of members’ pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).
A significant increase in so-called ‘mega-transactions’ accounted for around two-thirds of the record-breaking bulk-annuity transfer volumes for 2019, Hymans Robertson analysis reveals.