Rothesay completes £105m buy-in for Skipton BS Group Pension Scheme

Rothesay has completed a £105m buy-in with the Skipton Building Society (2015) Group Pension Scheme. 

This transaction secures benefits for all 705 scheme members, which include 396 pensioners and dependants as well as 309 deferred members. 

Róisín O’Shea, business development at Rothesay, said: “We are delighted to protect the pensions of all 705 members of the Scheme through this de-risking transaction. 

“The Scheme was well-prepared which enabled a quick and efficient execution to secure the future for its members. 

“In a buoyant bulk purchase annuity market, Rothesay continues to demonstrate the strength of its de-risking capabilities, providing innovative solutions for our clients and awardwinning customer service.” 

Steve Southern, chair of the trustee at Vidett, said: “This deal represents a great outcome for the Company and the Scheme members. 

“In a busy pension risk transfer market, schemes must prepare thoroughly to give themselves the best possible chance of attracting and engaging an insurer. 

“The speed of this buy-in is testament to the Scheme’s planning which, combined with Rothesay’s proven offering, allowed for a rapid transaction.”