British Red Cross completes £30m buyout with Aviva

Bulk annuity transaction secures the benefits for 360 members across two schemes

Martin Richmond
clock • 2 min read
British Red Cross offices in Hillington, Glasgow
Image:

British Red Cross offices in Hillington, Glasgow

The British Red Cross Pension Fund and the Scottish Branch British Red Cross Society Retirement Benefits Scheme have completed a £30m buyout with Aviva.

The bulk annuity transaction, which was completed in March, has insured the benefits for approximately 360 members across both schemes and has removed the members' investment and longevity risk. ...

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