Pfizer agrees £190m buy-in with Aviva; Insurer confirms £1.6bn of deals

James Phillips
clock • 3 min read

A Pfizer Group-sponsored defined benefit (DB) pension scheme has completed a £190m buy-in with Aviva, following a slow start to the year in bulk annuity business for the insurer.

The trustees of the Wyeth Group Pension and Life Assurance Scheme (1997) completed the deal on 23 April, which uses Aviva's DB and defined contribution (DC) plan to cover benefits for around 2,000 ...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now


Already a Professional Pensions member?


James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Risk Reduction

Record breaking bulk annuity volumes are expected over the coming three years

L&G takes BPA top spot as insurers report 2022 results

Pensions risk transfer totals £44.7bn in 2022 as market gears up for growth acceleration

Jonathan Stapleton
clock 21 March 2023 • 5 min read
Chapelthorpe scheme completes £34m buy-in

Chapelthorpe scheme completes £34m buy-in

The deal with Aviva secures the benefits of the remaining uninsured scheme members

Holly Roach
clock 21 March 2023 • 1 min read
Hymans Robertson head of risk transfer James Mullins

Risk transfer volumes reached £27.9bn in 2022

Hymans Robertson research finds bulk annuity market could exceed £50bn this year

Jasmine Urquhart
clock 21 March 2023 • 2 min read