HSB Pension Scheme Completes £36 Million Canada Life Buy-in for 319 Members

2 articles · Updated · Professional Pensions · May 27

£36 million of liabilities were insured in a full-scheme buy-in that secures benefits for HSB Engineering Insurance Services Pension Scheme members.
The deal covers 191 pensioners and 128 deferred members, locking in greater certainty over future retirement payments.
Canada Life provided the policy, while the scheme is sponsored by HSB UK & Ireland, the engineering and technology insurance underwriter.
Mercer advised on the transaction, with Vidett chairing the trustees and Pinsent Masons providing legal support.

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