Homestyle Pension Company completes £103m bulk annuity buy-in transaction
9th December 2020
6:45 pm
Homestyle Pension Company has completed a £103 million bulk purchase annuity transaction with Aviva.
The arrangement will insure the defined benefit (DB) pension liabilities of all 1,294 members of the Homestyle 2007 pension scheme, removing their investment and longevity risks from the scheme. Members will not see any change in the amount of their benefits or how these are paid following the transaction.
The transaction was led by EY and advised by Isio. Squire Patton Boggs provided legal services to the schemeâs trustees, Bestrustees, and Addleshaw Goddard provided legal advice to Homestyle Pension Company.