Why your scheme might need a defined benefit solution
Defined benefit pension liabilities can be one of the greatest financial challenges that companies face, with factors like investment underperformance, members living longer than expected, interest rate changes and inflation all playing a part in the need to de-risk.
How we can help
Our defined benefit solutions are bulk purchase annuities. These are insurance policies that help secure members’ benefits by removing risks to the scheme. There are two types of bulk purchase annuities, a buy-in or buy-out, and we offer both.
-
Buy-in
Covers all the scheme’s future pension payments, removing investment, longevity, interest rate and inflation risk. We make regular payments to the scheme that cover the benefits secured – the scheme remains responsible for making payments to members. The buy-in is effectively an asset of the scheme.
-
Buy-out
Covers all the scheme’s future pension payments, removing investment, longevity, interest rate and inflation risk as well as the risks of future running expenses for the scheme. Individual policies are issued to the members by us, we pay their benefits directly to them - and take responsibility for ongoing administration.
At a glance
Since developing our first bulk purchase annuity solutions in 2016 we’ve helped trustees and sponsors de-risk £24.5bn and secure the benefits of over 165,000 pension scheme members.
Why you should consider us
Solutions-focussed and innovative approach
- The expertise to tailor and develop innovative solutions to meet your needs. For buy-ins we offer an umbrella contract approach, so future transactions can be completed quickly and efficiently.
- We are able to provide a home for additional voluntary contributions (AVCs), which will facilitate switchback. This features allows members to transfer back to the DB scheme and take their AVCs as potentially their first maximum tax-free lump sum.
Service excellence from an award-winning team
- Purpose-built deal team, with experience transacting deals ranging from £10m to £1.8bn.
- Dedicated Client Services team, for a seamless transition for you and your members.
- Completed more than £24.5bn of bulk annuity deals to date, insuring the benefits of over 165,000 pension scheme members.
Digitally enabled member experience
- Partner with Equiniti, a market leader in defined benefit pension administration.
- Regular contact with members providing clear, tailored communications.
- Secure and intuitive digital experience with real-time transfer value and retirement quotations.
Meet our award-winning team
-
It was clear that Standard Life was dedicated to meeting the needs and objectives of the Scheme, showing an out of the ordinary level of flexibility and collaboration for a smaller transaction, and the Trustee is delighted with the outcome."- James Mullins
Partner and Head of Risk Transfer Solutions
Hymans Roberston -
Working collaboratively with Standard Life, the result has been to provide real certainty to over 20,000 members and to the sponsor by making a bulk annuity affordable at the current time, when previously it was considered to be years away."- Harry Harper
Risk Settlement Partner
XPS Pensions Group -
We are really pleased to have entered into a buy-in policy with Standard Life, who will provide the members of the Plan with strong security in their retirement."- Ash Williams
Risk Settlement Partner
XPS Pensions Group
Latest news
-
Standard Life bolsters Defined Benefits Solutions team with senior hire
-
Standard Life completes £250m of buy-ins with the Halma Group Pension Plan and the Apollo Pension and Life Assurance Plan
-
The outlook for the BPA market for the rest of 2024
-
Standard Life completes £114m buy-in with the Vector Pension Scheme
-
Standard Life completes £300 million full scheme buy-ins with the iPSL Section of the Unisys Payment Services Limited Pension Scheme and the Unisys Public Sector Pension Scheme