Aegon UK pension scheme completes £160m buy-in with Scottish Widows

Written by Sophie Smith

05/06/2023

The trustee of the Aegon UK Staff Retirement and Death Benefit Scheme has completed a £160m partial buy-in with Scottish Widows, covering the interest rate, inflation and longevity risk relating to around 500 members.

Hymans Robertson acted as the lead adviser on the deal, while Burness Paull provided legal support to the trustee and Scottish Widows was advised by Hogan Lovells.

Scottish Widows head of origination and structuring, Matt Wilmington, said: “This transaction was the culmination of a collaborative process with the trustee and its advisers through a period of market volatility following the October Budget, and we are excited to be working with the Aegon pension scheme for the long-term on helping achieve their de-risking aims.

“Our experienced team continues to focus on strengthening our track record of working with trustees and scheme sponsors to deliver for their members and growing our market share.”

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