Unnamed pension scheme completes £53m buyout with Standard Life

Written by Adam Cadle

16/02/2023

The pension scheme for an unnamed manufacturing business has agreed a £53m buyout with Standard Life, covering 235 pensioners and 163 deferred members.

The trustee board was chaired by Capita Cranfield professional independent trustee, John Nestor, and actuarial advice on the buyout was provided by Quantum LLP, while legal advice was provided by DLA Piper.

Standard Life senior business development manager Matt Richards stated: “Our focus is always on ensuring good outcomes for both the pension scheme and its members, regardless of size.

"In this case, by working closely with the plan’s trustees and taking advantage of favourable pricing conditions, we are pleased to have secured the benefits for 398 members.

"We are currently seeing a trend towards more full scheme buy-ins as a result of stronger funding positions, and this is something we expect to see more of as the year progresses.”

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