News

BESTrustees’ pension scheme client, the Stonegate Pub Company Limited, has successfully completed bulk purchase annuity buy-ins with Isio and Utmost Life and Pensions for the Laurel Pub Pension Scheme and the Yates Group Pension Scheme. Both schemes are sponsored by Stonegate, the UK’s largest pub group. The £62 million transactions will ensure the defined benefit pension liabilities for all the Schemes’ members , removing investment and longevity risk from the Schemes, and giving the 650 members improved security. The transactions were run by a joint working group of the Schemes’ Trustees and Stonegate Pub Company Limited, supported by their respective …

BESTrustees’ pension scheme client, the Premdor Crosby Pension Plan, has completed a £16 million bulk purchase annuity (BPA) transaction with Royal London, the UK’s largest mutual life, pensions and investment provider. The Trustees were advised by WTW and Pinsent Masons under a sole insurer quote process. Royal London was advised by Hogan Lovells. This buy-in, which covers 181 members, is the first that Royal London has completed with BESTrustees as Chair of Trustees, and also with WTW on a scheme that is not one of their own staff pension arrangements. This buy-in also marks the first time that Royal London …

An interesting article in Pensions Expert from Andy Boorman, BESTrustees’ director and member of the Society of Pensions Professionals, in which he explains the importance of the regulator’s work on trusteeship and how independence and lack of conflicts can raise standards in professional trustee work. As a profession, we must engage fully with the regulator’s review of oversight in the professional trustee industry and work to define a template for professional trusteeship which serves all stakeholders well. At the heart of everything has to be the overarching principle of independence in our conduct and decision-making in order to secure good …

The WCF Ltd Staff Retirement Benefits Scheme has announced a £7.2m buy-in for the scheme’s remaining 122 deferred members. The Sponsor, WCF Ltd, a logistics, retail, e-commerce, and leisure company, based in the UK,  worked closely with BESTrustees and adviser Gallagher. In less than five months, the trustees and Gallagher steered the buy-in to its final signing with Legal & General, working closely with several other parties to deliver a swift and favourable outcome. BESTrustees was the professional trustee, Gallagher acted as risk transfer broker, scheme actuary, and provided consultancy services on investment and administration and Eversheds Sutherland acted as …

The Trustee of the Huntsman Pension Scheme have announced a £205 million buy-in transaction with M&G plc, securing the pension scheme benefits of over 660 retirees and deferred pensioners in the scheme. The insuring entity is The Prudential Assurance Company Limited, M&G’s wholly-owned subsidiary offering life and pensions solutions. The Trustee, M&G and their advisers worked hard to complete this transaction within the first quarter of 2025. The collaboration of all parties was critical in reaching this milestone with M&G’s premium locked to the Scheme’s assets, comprising of gilts and credit, over that period. The Trustee’s Chair, John Shipman, working …

BESTRUSTEES’ client Molins UK Pension Fund has secured a £249m buy-in deal with Aviva. The bulk purchase annuity (BPA) transaction – completed in June – secures the benefits of over 3,500 members of the scheme, which is sponsored by Mpac Group. BESTrustees’ trustee chair Sanjay Gupta said: “We are pleased to have achieved this significant step that will provide greater security for members’ benefits. The collaborative and constructive approach between the trustee, Mpac Group and our advisers has helped to secure this very positive outcome.” Aviva BPA deal manager Paul Donnelly added: “We’re pleased to have supported the trustees of …