Rothesay Life has completed a £107m buy-in with the Lincolnshire Co-operative Pension Scheme, securing the benefits for approximately 2,300 members.
The scheme is sponsored by the Co-operative Group. The transaction is to secure member benefits as part of a long-term plan to de-risk the scheme.
Rothesay has been working collaboratively with the scheme dating back three years to get to this point.
Hymans Robertson acted as risk transfer advisor to the trustees, with legal advice provided by Womble Bond Dickinson.
All parties cited strong governance and project management throughout the transaction, which enabled a smooth implementation of the buy-in.
“The collaborative approach and thorough preparation ensured a successful outcome that delivers a secure retirement for members and aligns with the Scheme’s long-term objectives,” said Mahad Farooqui, risk transfer specialist at Hymans Robertson.
Jim Robson, chair of the scheme trustee and trustee director at Vidett, added: “Completing this buy‑in significantly strengthens the security of pensions for the scheme’s members. Our priority has always been to provide security and peace of mind, and this transaction delivers on that commitment.”
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