Broadstone advises on £1bn of pension buy-ins through SM&RT Insure

Broadstone has surpassed £1bn in bulk purchase annuity (BPA) premiums advised through its SM&RT Insure proposition, following a record year of activity in 2025.

During the year, the independent financial services consultancy advised on 36 BPA transactions through SM&RT Insure, securing £508m in de-risking premiums and protecting the pension benefits of more than 5,000 members.

The deals included 21 transactions valued below £10m and Broadstone’s first completed buy-out using Aviva’s Clarity fast-track option.

SM&RT Insure – Set Up, Monitor & Risk Transfer – was launched by Broadstone in 2021 to provide a structured and efficient process for small and medium-sized pension schemes entering bulk annuity transactions and moving towards wind-up.

The proposition is designed to ensure schemes are well prepared, increasing insurer confidence and improving the likelihood of successful, competitively priced outcomes.

Since its launch, SM&RT Insure has supported 61 schemes in total, with aggregate premiums now exceeding £1bn and benefits insured for more than 9,000 members.

Broadstone said demand for de-risking solutions among smaller schemes remains strong and is expected to continue into 2026.

Christopher Rice, head of trustee services at Broadstone, said: “I am immensely proud of our SM&RT Insure offering and dedicated team for giving so many small to medium-sized pension schemes increased confidence of a successful insurance transaction and supporting them on successful deals.

“In a hugely competitive de-risking market, it is critical that smaller schemes are well-prepared and strongly positioned for an efficient transaction process. This is important to attracting insurers, executing quickly and securing an affordable price point.

“The success of SM&RT Insure has helped to protect the benefits of thousands of scheme members and is a testament to the hard work of our team. Looking ahead to 2026, we are expecting another busy year in the bulk purchase annuity market especially at the smaller end of the market which is experiencing the highest level of demand.

“As more insurers and other vehicles engage with smaller deals, and pricing becoming increasingly competitive, trustees and sponsors of small schemes can be confident of achieving a good outcome if they prepare properly.”