The trustee of the Cameron McKenna Final Salary Pension Scheme and the NN Pension Scheme has secured a £112m bulk annuity buy-in with Aviva, insuring the benefits of around 1,000 scheme members.

The full buy-in, completed in June 2025, was advised by Cartwright and K3 Advisory, with Schroders acting as the schemes' fiduciary manager and IGG acting as professional corporate sole trustee.

The schemes reached their endgame more than three years ahead of the original journey plan, established over a decade ago.

Using its in-house segregated liability-driven investment capabilities, Schroders Solutions aligned the scheme’s assets with a price-lock well in advance of the transaction, which helped secure the premium and enabled a “smooth” transition of assets to Aviva.

Commenting on the deal, IGG vice chairman and chair of trustees, Nigel Moore, said: “As professional corporate sole trustee, we are delighted to have concluded this bulk annuity buy-in with Aviva, improving member benefit security.

“We would like to thank Cartwright, K3 Advisory, Schroders, Isio and the CMS pensions team for their support, collaboration and hard work over the years in helping to make this buy-in possible.”

Adding to this, Cameron McKenna Nabarro Olswang chief financial officer, Andrew Richards, explained the company had agreed a journey with the trustees and advisers over 10 years ago, to get a significantly de-risked position by 2028.

“We are delighted to achieve this outcome ahead of schedule, but also as part of a very stable journey over a long period.

"This outcome now secures our member benefits with a long-established insurer.”

Schroders Solutions head of UK defined benefit fiduciary management clients, Ross Nicholson, added: “We are pleased to have supported the schemes over the last 20 years to deliver this endgame on behalf of their members.”

Nicholson said it is “very rewarding” to deliver the schemes to the agreed endgame, after working with Moore and the trustee for over 15 years.

“We monitored buyout funding levels and worked closely with the trustee to de-risk and manage down illiquid assets in time, ensuring the schemes were well-positioned to act quickly and transact at the opportune time,” he said.

“The groundwork had been done, which saved the client transaction costs and ultimately delivered security for their members.”

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