ICAEW fund completes £50m buy-in with Canada Life

Third buy-in takes scheme’s insured benefits to around half of liabilities

James Phillips
clock • 1 min read
Trustee chair Edward Levy
Image:

Trustee chair Edward Levy

The Institute of Chartered Accountants’ Staff Pensions Fund has insured the benefits of around 200 pensioner members in a £50m buy-in with Canada Life.

The transaction is the third bulk annuity deal completed by the Institute of Chartered Accountants in England and Wales (ICAEW) scheme, although the first with Canada Life. The prior deals were completed...

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?

Login

More on Defined Benefit

Industry Voice: How member options can help schemes reach their endgame

Industry Voice: How member options can help schemes reach their endgame

Bulk exercises and member journey plans are increasingly being used, according to research from Aon and Professional Pensions

Gareth Jones
clock 20 January 2022 • 1 min read
PPF chief customer officer Sara Protheroe

'They know they're safe': How the PPF supports members

James Phillips speaks to Sara Protheroe about making a PPF transition a positive experience

James Phillips
clock 03 December 2021 • 12 min read
Clara chief executive Adam Saron

Clara becomes first DB superfund to get approval

Approval comes nearly 18 months after interim regime was launched

James Phillips
clock 30 November 2021 • 2 min read
Trustpilot