Fixed fee Xpedite service aims to improve buy-in process for smaller schemes
Guide will provide greater certainty for DB scheme trustees regarding transactions
The deal protects the benefits of 800 pensioners and 7,950 deferred members
New rules come into force on 1 June and aim to increase take up of Pension Wise guidance
The full buy-in transaction was signed in December for an undisclosed sum
Deferred-heavy deal completed at the end of 2021 in midst of ‘intense market’ conditions
Deal also provides inflation protection for all 7,600 members of the scheme
Benefits for around 1,000 members are expected to move to buyout by 2024
First deal completed after the Phoenix bulk annuity team’s rebrand
Biggest deal of 2021 so far sees 12,500 pensioner and deferred members insured