M&G completes £85m BPA transaction for the Altro Pension Scheme
The deal secures the benefits of 740 members and their dependants.
M&G has completed an £85m bulk purchase annuity (BPA) transaction for the Altro Pension Scheme.
The deal secures the benefits of 740 members and their dependants.
The transaction used M&G’s ‘BPA Plus’ product, which combines the security of a traditional bulk annuity with the possibility of future investment outperformance.
The Trustees chose M&G after a competitive process due to its financial strength and the flexibility of the BPA Plus proposition.
Aon provided broking, investment and actuarial advice, with legal support from Pinsent Masons and Eversheds.
Rosie Fantom, head of bulk annuity origination & execution at M&G, said: “We’re pleased to support Altro and the Trustees in securing the long-term future of their 740 members.
“This transaction highlights the value of ‘BPA Plus’, combining the security of a bulk annuity with the potential to offer greater outcomes over time.
“It’s a strong example of how we can work with trustees and their advisers to deliver practical, member-focused outcomes, and we look forward to continuing to support the scheme in the years ahead.”
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