Rothesay completes follow-on buy-out with aviation scheme
Rothesay is pleased to announce that it has agreed the successful completion of a £6 million buy-out for a UK pension scheme in the aviation sector. The deal secures the benefits of eight pensioners and 31 deferred members.
Speaking about the transaction, Cleo Taylor Smith, of Rothesay, commented: “Over the years, we have accumulated over one hundred buy-in contracts for smaller schemes, predominantly through transactions with Aegon, Zurich and MetLife. As the UK’s largest pensions insurance specialist, we are committed to providing solutions to all of our clients to help them de-risk and buy out. Despite the relatively small size of the deal, after discussion with K3 and the Trustees we were happy to provide a price lock on the premium, spanning the Christmas and New Year period. This gave the Trustees and sponsor absolute certainty and removed all market risk before the transaction completed.”