21 November 2019
“The Aegon UK Staff Retirement and Death Benefit Scheme (the “Scheme”) has completed a £144 million buy-in with Phoenix. Hymans Robertson acted as lead adviser to the Scheme.
This was the Scheme’s first buy-in as part of a long term de-risking strategy, covering around a quarter of the Scheme’s pensioner liabilities.
Maurice Brunet, Chairman of the Trustee of the Aegon UK Staff Retirement and Death Benefit Scheme, said: “This is a key milestone for the Scheme being the first buy-in as part of our long-term de-risking strategy. It helps to improve long-term security for all of our members by reducing the Scheme’s exposure to future investment and longevity risks.
Hymans Robertson helped the Scheme set an appropriate de-risking strategy and ensured that we had excellent insurer engagement in a crowded bulk annuity market.””
December 8, 2022
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