Phoenix agrees £1bn buy-in with its own scheme

Dearth of deals in bulk annuity market allow scheme to accelerate its timeline

James Phillips
clock • 1 min read
Phoenix agrees £1bn buy-in with its own scheme

Phoenix has completed a £998m buy-in with one of its own defined benefit (DB) schemes following a slow start to 2021 for the bulk annuity market.

The insurer closed the pension risk transfer deal with the Pearl Group Staff Pension Scheme on 22 July, covering around 35% of pensioner and deferred liabilities. The transaction follows an agre...

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

How surplus is driving a rethink of the pension scheme endgame

How surplus is driving a rethink of the pension scheme endgame

Mark Johnston looks at recommendations for good surplus management

Mark Johnston
clock 01 September 2025 • 4 min read
BDO schemes secure £60m buy-in deal with Just Group

BDO schemes secure £60m buy-in deal with Just Group

Transaction insures the benefits of over 1,000 members across the two schemes

Holly Roach
clock 28 August 2025 • 2 min read
Quest UK Pension Scheme completes £134m buy-in with Aviva

Quest UK Pension Scheme completes £134m buy-in with Aviva

BPA transaction secures the benefits of over 440 scheme members

Holly Roach
clock 27 August 2025 • 2 min read
Trustpilot