The Royal Horticultural Society (RHS) 1974 Pension Scheme has completed a £22m buy-in with Royal London.

The transaction secured the benefits of 230 members in the pension scheme.

The pension scheme and insurer agreed to execute the buy-in under a sole insurer framework, providing a tailored solution for the trustees.

XPS and Stephenson Harwood provided advice to the scheme trustees during the process.

On behalf of the scheme trustees, Royal Horticultural Society (RHS) director of finance, Ingrid Fernandes, said: “This transaction represents an important milestone for both the scheme and the RHS.

“By increasing certainty around the charity’s future pension obligations and strengthening the long-term financial sustainability, it supports our ability to focus on delivering our charitable mission.

"This includes continued investment in our world-renowned gardens, scientific research, educational programmes and our work to inspire more people to garden and connect with nature.”

Royal London BPA origination lead, Beatrice Male, added; “This buy-in brings together two organisations with a strong sense of purpose and hundreds of years of history.

“That shared perspective was clear from our first engagement with the trustees and helped us deliver a bespoke solution to meet their objectives.

"We’re proud to have earned their trust and look forward to delivering the high-quality service and stewardship their members deserve for many years to come.”

XPS partner, Ash Williams, concluded: “The scheme had a number of complexities to consider but the collaborative work of the trustees, the RHS and the advisory team has led to an excellent outcome with an insurer that puts customer service first, which was one of the key criteria for the trustees.”

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