Bulk Annuity Market Information

15 April 2019

Date of announcement

Scheme / Firm

Insurer

Size £M

Type of Transaction

Jul-19  Smiths Industries Pension Scheme  Canada Life  176  Buy-in 
Jun-19 Rolls-Royce UK Pension Fund L&G 4600  Buyout 
May-19 Marks and Spencer  PIC  900  Buy-in
May-19  Marks and Spencer  Phoenix  460  Buy-in 
Apr-19  3i Group Pension Plan L&G  95  Buy-in  
Apr-19  Laird Pension Scheme  Rothesay Life  110  Buyout 
Apr-19  Dresdner Kleinwort Pension Plan  PIC  1200  Buyout 
Apr-19 The Bank of America Merrill Lynch UK Pension Plan  Scottish Widows   400 Buy-in 
Apr-19 Peugeot Advanced Pension Plan Scottish Widows 140 Buyout
Apr-19 QinetiQ Pension Scheme  Scottish Widows  690 Buy-in

Mar-19 

Howden Group Pension Plan 

L&G 

230 

Buyout 

Jan-19 

National Express UK Pension Scheme

Rothesay Life

Undisclosed

Buyout

Jan-19

Pearson Pension Plan 

L&G

500

Buy-in

Jan-19

Lafarge UK Pension Plan

Munich Re

Undisclosed

Longevity swap

Jan-19

Co-operative Group

PIC

425

Buy-in

Dec-18

Wyeth Group Pension and Life Assurance Scheme (Pfizer)

Just

158

Buy-in

Dec-18

Reuters Pension Fund

Canada Life

625 

Buy-in

Dec-18

Rentokil Initial

PIC 

1,500

Buyout

Oct-18 

Hitachi 

Scottish Widows 

Undisclosed 

Buy-in 

Oct-18 

Nortel Networks UK Pension Plan 

L&G

2,400 

Buyout 

Sep-18

AA UK Pension Scheme

Canada Life

351

Buy-in

Sep-18

Undisclosed (Fortune 500)

L&G

285

Buy-in

Sep-18

Spirit Pension Scheme (Greene King)

Scottish Widows

50

Buy-in

Sep-18

Airways Pension Scheme

L&G

4,400

Buy-in

Aug-18

Hays Pension Scheme

Canada Life

271

Buy-in

Aug-18

Undisclosed

L&G

300

Longevity swap

Aug-18

Menzies Pension Fund

PIC

75

Buyout

Aug-18

BHS2 pension scheme

PIC

800

Buyout

Jul-18

Civil Aviation Authority

PIC

60

Buy-in

Jul-18

600 Group

PIC

201

Buyout

Jul-18

IET Superannuation and Assurance Scheme

PIC

50

Buy-in

Jul-18

Siemens

PIC

1,300

Buy-in

Jul-18

PA Pension Scheme

PIC

850

Buyout

Jun-18

Heathrow Airport's defined benefit (DB) plan

L&G

325

Buy-in

May-18

Littlewoods Pensions Scheme

Scottish Widows

880

Buy-in

May-18

Marks and Spencer

Phoenix

470

Buy-in

May-18

Marks and Spencer

Aviva

925

Buy-in

May-18

Toshiba

Rothesay Life

170

Buyout

May-18

National Grid

Zurich

2,000

Longevity swap

Apr-18

Kingfisher

PIC

209

Buy-in

Mar-18

Prudential Back-Book

Rothesay Life

12,000

Bulk annuity back book

Feb-18

WPP (Five Schemes)

PIC

140

Buyout

Feb-18

Post Office

Rothesay Life

450

Buy-in

Feb-18

Sea Containers 1983 Scheme Pension

Aviva

190

PPF+

Feb-18

Un-named scheme

L&G

150

PPF+

Dec-17

Aliaxis UK

Just

50

Medically underwritten bulk annuity

Dec-17

Pirelli

PIC

100

Buy-in

Dec-17

Merchant Navy Officers Pension Fund (MNOPF)

L&G

490

Buy-in

Nov-17

Dock Workers Pension Fund

PIC

725

Buy-in

Oct-17

Wolseley Group scheme

PIC

590

Buy-in

Oct-17

Pearson Pension Plan

L&G

600

Buy-in

Oct-17

Pearson Pension Plan

Aviva

600

Buy-in

Oct-17

Smiths Group

Canada Life

207

Buy-in

Sep-17

British Airways Pension Scheme

Partner Re and Canada Life Re

1,600

Longevity swap

Sep-17

Plumbing & Mechanical Services (UK) Industry Pension Scheme

L&G

560

Buy-in

Sep-17

Marsh & McLennan Companies (MMU) UK pension Fund

Canada Life Reinsurance, Prudential Insurance Company of America (PICA)

3,400

Longevity swap

Aug-17

Scottish and Southern Energy

PIC

100

Buy-in

Aug-17

Scottish and Southern Energy

PIC

250

Buy-in

Aug-17

Scottish and Southern Energy

L&G

800

Longevity swap

Aug-17

Jarrold & Sons

Aviva

19

Buy-in

Jun-17

Skanska pension fund

Zurich / SCOR

300

Longevity swap

Jun-17

Unamed

PIC

690

Buy-in

Jun-17

Vesuvius

PIC

15

Buy-in

May-17

College of Law Pension

Aviva

28

Buy-in

May-17

3i Group Pension Plan

PIC

200

Buy-in

May-17

Mizuho

L&G

10

Buyout (DB DC HYBRID)

May-17

Church & Dwight

Aviva

50

Buyout

May-17

Tullett Prebon

Rothesay Life

270

Buyout

Apr-17

Monsanto Pension Plan / Pfizer

Scottish Widows

100

Buy-in

Mar-17

Zurich back book annuities

Rothesay Life

TBC

Bulk annuity back book

Mar-17

Alps Electric Pension Scheme

PIC

33

Buyout

Mar-17

Federated Flexiplan No.1 scheme

Aviva

70

Buyout

Feb-17

Smiths Group (TI Group Scheme)

PIC

130

Buy-in

Feb-17

Cancer Research

Canada Life

250

Buy-in

Jan-17

Aliaxis UK

Just

36

Medically underwritten bulk annuity

Jan-17

Civil Aviation Authority

PIC

90

Buy-in

Jan-17

Alcatel-Lucent

PIC

100

Buy-in

Jan-17

TI Group

PIC

140

Buy-in

Jan-17

Land Securities' scheme

Just

110

Medically underwritten bulk annuity

Jan-17

GKN

PIC

190

Buyout

Jan-17

Un-named scheme

PIC

60

Buy-in

Dec-16

PGL Pension Scheme

Phoenix

1,200

Buy-in

Nov-16

Vickers Group

Legal & General

1,100

Buyout

For more information on bulk pension scheme buyouts and buy-in’s please visit Buy-in Buyout Services pages where you can find out more about our Buyout Comparison Service and read our Buy-in/ Buyout Guide.

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