Standard Life completes £150m full scheme buy-in of the Sappi UK Pension Scheme

Standard Life, part of Phoenix Group, has concluded a £150M Bulk Purchase Annuity (“BPA”) transaction covering 1,300 members of the Sappi UK Pension Scheme (“the Scheme”).

As a full scheme buy-in, the transaction has enabled the Trustee and Company to significantly reduce the risks associated with its pension scheme liabilities by securing full benefits for the Scheme’s members.