Pensions - Articles - Partnership completes buy-in deal worth £30m

 Specialist Insurer Partnership has announced that it has signed its second de-risking deal of the year - a £30m buy-in to de-risk the entire pensioner population of a manufacturer’s pension scheme.

 Using its extensive experience in this market, Partnership was able to guide the scheme from first discussion to completion within 10 weeks – a clear demonstration that in the bulk-annuity market well advised trustees can secure benefits at an attractive price.

 In addition, this move also provides the scheme’s more than 400 pensioner members with the reassurance of a retirement income guaranteed by a large insurer who meets the rigorous capital requirements of the PRA, and operates a financially robust business model.

 Andy Morley, Head of Enhanced Bulk Annuity Sales, said:

 “Partnership is delighted to announce that it has signed a deal to de-risk the entire pension population of this client’s scheme. By working closely with the various interested parties, we were ideally positioned to move the transaction to completion in a comparatively short space of time. This further demonstrates that if the de-risking process is carefully managed it need not be overly time consuming nor hugely complex.”