Royal London has completed a £37m buy-in with the British Heart Foundation staff pension scheme.
The transaction insures the pensions of over 200 members, comprising 118 pensioners and their dependants and 85 deferred pensioners.
Broadstone advised the trustees of the scheme, leading the risk transfer project, while legal advice was provided by Osborne Clarke.
Broadstone deal lead Bob Jenkinson says: “Broadstone was first appointed to provide services to the Scheme over 20 years ago, so we are incredibly proud to have helped the Scheme and Charity reach such a key milestone. Completing the transaction in only 14 days is an amazing achievement and demonstrates our ability to deliver against both long-term and short-term objectives.”
Scheme chair of trustees Roshan Teeluck says: “Above all, this positive news improves the security of providing benefits payable to the members of the Scheme and their dependants.”
Royal London BPA origination lead Beatrice Male says: “We see strong alignment in the values of Royal London and the British Heart Foundation Staff Pension Scheme, and we’re proud to be entrusted with safeguarding the benefits of their pension scheme’s members.”