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During March, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process climbed from 101.7% to 102.5% of a plan’s accounting liabilities.

The transaction was finalised in March 2025 and is the ninth buy-in for Royal London’s BPA business.

The £7.5m transaction secures the benefits of all 121 members, comprising 26 deferred members and 95 pensioner members, and covers all scheme liabilities.

The buy-in insures the benefits of 180 Scheme members comprising 99 deferred members and 81 pensioners.

Gokul Sudarsana, Chief Investment Officer of HSCM’s Life strategy and Co-Chief Investment Officer of the Firm’s Re/Insurance strategy.

The transaction, completed back in January 2025, secures the benefits of all 705 Scheme members which comprises 396 pensioners and dependants as well as 309 deferred members.

The funding ratio and the aggregate funding position of the 4,969 schemes in the PPF 7800 Index fell in March, down from 126.1% to 124.7% and a £232.7bn surplus to a £215.5bn surplus, respectively.

Universal life insurance policy application activity was yet again lower in March when compared to the prior year, seeing an 8.7% reduction compared to 2023.

The transaction involves approximately 8,200 participants and invested pension capital of around EUR 950m, making this transaction the largest buyout by Zwitserleven to date.

First transaction in the UK PRT market by Macquarie Asset Management-owned insurer.