Unnamed motor industry pension scheme completes £19m buy-in

An unnamed motor industry pension scheme has completed a £19m full scheme buy-in with an unnamed insurer, covering the benefits of 52 pensioners and 17 deferred members.

Zedra Governance acted as professional trustee for the scheme, represented by the chair of the trustee board, Kim Nash and Zedra client director and risk transfer specialist, Alan Greenlees, who provided strategic support.

The deal was led by K3 Advisory, while Spence & Partners provided administration, actuarial and investment advice to the trustee, and Mills and Reeve provided legal advice.

Commenting on the deal, K3 Advisory managing director, Adam Davis, said: “Our ongoing market tracking and strong connections allowed us to create competitive tension on this transaction, and swiftly secure attractive pricing that would otherwise only be available to larger schemes - securing member benefits with minimal costs.”

Adding to this, Greenlees said: “We were really pleased with the innovation and pragmatism displayed by all the advisors during this project, allowing us to guide the scheme through this transaction and closer to their end goal.

“These deals are a group effort with members at the heart of it. We are pleased to have been able to secure this result for the scheme, within months from when negotiations first began, and provide greater security for members’ benefits.”

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