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  • Standard Life completes £250m of buy-ins with the Halma Group Pension Plan and the Apollo Pension and Life Assurance Plan
  • Bulk Purchase Annuity secures the benefits of 2,200 members

Standard Life, part of Phoenix Group, has successfully concluded £250m of Bulk Purchase Annuity transactions across two plans; the Halma Group Pension Plan and the Apollo Pension and Life Assurance Plan, which secures benefits for 2,200 members.

The Halma Group Pension Plan is sponsored by Halma plc, and the Apollo Pension and Life Assurance Plan is sponsored by Apollo Fire Detectors Limited, whose parent company is Halma plc. The transactions were completed in September 2024.

The Trustees, sponsors and their advisers collaborated closely with Standard Life to meet both plans’ de-risking objectives and secure the buy-ins, significantly reducing risk exposure for the plans and their members.

LCP acted as the lead transaction adviser to the Trustee, with investment advice from Mercer and legal advice from Squires Patton Boggs.

Joe Haswell, BPA Transaction Manager at Standard Life, commented: “By collaborating closely with the Trustees, sponsors and their respective advisers, we are pleased to provide a secure home for the benefits for over 2,000 members. The plans came to market with clear objectives and well-prepared data and benefits, which laid the groundwork for an effective outcome. The BPA market continues to be busy, and as the end of the year fast approaches, solid preparation like this remains key to the efficient production of quotes in a competitive market.”

David Fink, Partner at LCP, added:“I am delighted to have helped the Trustees of the Plans take a significant step on their de-risking journeys by fully insuring the benefits in both Plans. By running the two buy-in processes together this helped the Trustees secure attractive pricing for both Plans quickly and efficiently in the busy market. The increased scale of the combined transaction also meant the Plans were able to optimise the secondary market sale for the Plans’ illiquid assets.”

ENDS
 

 

Media enquiries

For further information, photos, video content or interviews, contact:

Jennifer Smallwood / Samantha Griffith
Senior PR Manager / PR Manager
Standard Life, part of Phoenix Group
07858 367818 / 07752 465345
Jennifer_Smallwood@standardlife.com / samantha_griffith@standardlife.com

Notes to editors

About Standard Life

  • Standard Life is a brand that has been trusted to look after peoples’ life savings for nearly 200 years.
  • Today it proudly serves millions of customers who come to Standard Life directly, through advisers and through their employers’ pension scheme.
  • Standard Life is part of Phoenix Group, the largest long-term savings and retirement business in the UK. We’re proud to be building on nearly 200 years of Standard Life heritage together.
  • Our products include a variety of Pensions, Bonds and Retirement options to suit people’s needs, helping our customers to invest and save for their future.
  • We support our customers on their journey to and through retirement with comprehensive, easy-to-understand guidance so they can invest in the right way for their needs, and plan a future they feel confident about.
  • Standard Life is the proud headline sponsor of Race for Life, Cancer Research UK’s flagship fundraising event series.

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