Commonwealth Bank of Australia agrees £420m buy-in

L&G insures the benefits of around 1,200 members after working with the scheme for 12 years

James Phillips
clock • 2 min read

The Commonwealth Bank of Australia (UK) Staff Benefits Scheme has agreed a circa £420m full-scheme buy-in with Legal & General Assurance Society.

The bulk annuity covers mostly retired members, although 440, or 37%, of the 1,180 insured were deferred members. The scheme was an existing client of Legal & General Investment Management, havi...

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

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Risk Reduction

Ultra Electronics Scheme completes £250m buy-in with Just Group

Ultra Electronics Scheme completes £250m buy-in with Just Group

Deal secures benefits of over 1,000 pensioners and 750 deferred members

Jasmine Urquhart
clock 16 September 2025 • 2 min read
Welcome Break Pension Plan agrees £23m buy-in with Just Group

Welcome Break Pension Plan agrees £23m buy-in with Just Group

The transaction secures the benefits of all 348 scheme members

Holly Roach
clock 12 September 2025 • 2 min read
Utmost looks to client proposition following BPA progress this year

Utmost looks to client proposition following BPA progress this year

Insurer ‘proud’ of momentum in the year since its launch into bulk annuity market

Jonathan Stapleton
clock 10 September 2025 • 1 min read
Trustpilot