AA UK Pension Scheme completes £351m buy-in with Canada Life

Victoria Tichá
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The scheme is one of two funded defined benefit pension schemes sponsored by the motoring association
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The scheme is one of two funded defined benefit pension schemes sponsored by the motoring association

Canada Life has signed a £351m bulk annuity contract insuring the pensioner liabilities of 2,510 members and dependents in the AA UK Pension Scheme.

The bulk annuity transaction, completed in August, is the second announced by Canada Life so far this year, following a £270.6m buy-in of the Hays Pension Scheme after a quiet first half. The deal was...

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