Broadstone and Aviva complete £4m full scheme buy-in and buy-out for Finnair

Broadstone and Aviva completed a £4m buy-in and buy-out for the Finnair Oyj Retirement Benefit Scheme in under two months. 

The scheme, sponsored by Finnair Oyj, covered all 20 previously uninsured members and was finalised in October 2025. 

Aviva used its clarity service with a fast-track process, relying on accurate data prepared by Broadstone to ensure benefits were secured and the transition to buy-out was quick.

Broadstone acted as annuity broker, continuing its role as scheme actuary, investment consultant and administrator. 

Arc Pensions Law provided legal advice for the trustees, while Aviva’s legal support was delivered in-house.

Mark Channon, senior actuarial director and deal lead at Broadstone, said: “This was a perfect example of how Broadstone’s full-service approach to a buy-in using the SM&RT Insure approach leads to excellent outcomes. 

“Working seamlessly with the Scheme Actuary and the administration team meant we were able to present a perfectly prepared scheme for the transaction. 

“Collaborating with Aviva’s implementation team ensured a record turnaround time of two months to finalise the buy-in and move the Scheme rapidly to buy out.”

Nick Boyes, trustee director, said: “Broadstone identified at an early stage the suitability of the Scheme for Aviva’s Clarity proposition with fast-track option. 

“Broadstone and Arc then worked quickly and diligently with Aviva to prepare the Scheme so it was suitable not just for the initial buy-in but to be in a position to convert it rapidly to the buyout afterwards – an incredible result that will save the Scheme significant ongoing costs. 

“The Trustee is thankful for the contribution made by the Company which allowed the transaction to proceed, and I am confident that our members will be given the best possible service from Aviva in the future.”

Andrew Shaposhnikov, senior BDM at Aviva, said: “This transaction is a great example of the benefits of our Aviva Clarity service and the Fast-track option for schemes moving rapidly to buy-out. 

“The process worked seamlessly, thanks to excellent preparation by Broadstone the Trustee and meant we were able to move from buy-in to buy-out in under two months. 

“This speed means less complexity for trustees and more time for our teams to focus on what matters: providing a smooth and high-quality experience for scheme members.”