XPS Pensions Group has launched Xpedite, a risk settlement service tailored for pension schemes with £100m or less in AUM.
The platform seeks to streamline buy-in transactions by increasing insurer engagement. All of this is carried out using a low-cost fixed fee approach, which enables smaller schemes to conduct business more profitably.
The solution was developed by XPS in close collaboration with some of the top UK insurance companies that specialise in dealing with smaller schemes.
XPS Pensions Group head of risk settlement Stephen Purves says: “The market for buy-in transactions is a busy one, and smaller schemes can sometimes get lost in the melee. Our new Xpedite service offers smaller schemes an efficient and predictable route to buy-in transactions, cutting their costs and lowering transaction risk.
“This is more important than ever given that an increasing number of schemes have seen their funding position improve considerably, particularly for DB schemes that are approaching maturity.”