Marvin OnumonuBroadstone advised on five full scheme buy-ins with Aviva over the summer of 2025, as part of a pilot focused on very small schemes.
The deals included a £5.3m buy-in for a Scottish sawmilling company with 14 pensioner and 9 deferred members, a £4.4m buy-in for a West Midlands heavy manufacturer covering 43 pensioners and 16 deferred members, and a £3.4m buy-in for an East Midlands religious organisation with 20 pensioner members.
They also covered a £5.0m buy-in for the UK division of a US-owned customer experience business covering 26 pensioners and 15 deferred members, and a £3.6m buy-in for an independent school for children with special educational needs in the North West, covering 14 pensioners and 20 deferred members.
Broadstone and Aviva worked together to identify a group of well-prepared schemes to test the Aviva Clarity proposition at small scheme sizes.
Each scheme received a guaranteed quotation within agreed affordability and protected all member benefits through full-scheme buy-ins.
Christopher Rice, head of trustee services at Broadstone, said: “We are really encouraged that Aviva want to increase the number of deals they complete for schemes below £10m in premium size.
“There are so many schemes of this size ready to transact and the increased competition in this area of the market can only be a good thing for scheme trustees, members and sponsors.
“Broadstone’s SM&RT Insure approach and award winning administration meant that we were a natural choice to work with, giving Aviva the confidence that these deals would transact efficiently and with a swift data cleanse.”
Andy Morley, senior deal manager at Aviva, said: “Aviva has long supported schemes of all sizes with their ambitions to secure member benefits.
“Our successful Aviva Clarity proposition offers a simple and effective process to help smaller schemes – that, combined with the excellent preparation by the scheme trustees and their advisers, has helped achieve a fast and efficient de-risking outcome.”
Tom Stockley of Aretas Trustees, sole trustee on one of the transactions, said: “We were extremely impressed with the approach that Broadstone and Aviva took on this deal.
“Insurer market access is certainly more challenging for very small schemes, so it was refreshing to complete this transaction efficiently and with greater certainty.
“It is encouraging that Broadstone and Aviva are working hard to improve outcomes for smaller schemes.”
Lynn Pointon of Pi Pension Trustees, sole trustee on another of the transactions, said: “It was a great outcome for the Trustee, members and the employer for our scheme to complete this transaction.
“Broadstone have delivered high-quality services to the scheme for many years, and the addition of the SM&RT Insure process to our services enabled us to complete a smooth transaction in a short period of time.
“Advice was always clear and combined with effective project management.”
