The A Gomez Limited Retirement Benefits Scheme has completed a £4.8m buyout with Aviva following a six-month process.

The deal, which builds on a previous buy-in in July 2024, is the latest in a series of deals completed through Aviva Clarity, the insurer’s streamlined service designed to make the bulk purchase annuity (BPA) market more accessible for smaller schemes.

Apex Pension Trustees were appointed to the scheme as sole trustee in November 2023, shortly before the sponsoring employer went into administration.

After this, the focus turned to ensuring full benefits were secured for members in the scheme in a short time. XPS Group also advised on the deal.

In particular, professional pensions trustee at Apex Pension Trustees, Nigel Modlinsky, said that the swiftness of data diligence undertaken with Burges Salmon and XPS, along with Aviva’s Clarity service, were "vital" to a quick and seamless transaction.

"From a standing start, we have moved through data cleanse, quotation phase, buy-in to buyout in less than a year," he continued.

"It shows what can be done if you surround yourself with motivated people and I extend my thanks to all involved at Aviva, XPS and Burges Salmon for a positive experience."

Adding to this BPA deal manager at Aviva, Emma Thomas, said: "Thanks to excellent preparation by the trustees and their advisers at XPS, this was an incredibly well run and collaborative process, which helped it move at pace.

"Our Aviva Clarity process enabled the deal to be processed efficiently straight through to finalisation, which made for a seamless transaction."

Risk settlement partner at XPS Group, Harry Harper, adding: "We were delighted to lead on this high-speed and efficient bulk annuity process and help deliver a great outcome for scheme members.

"Aviva’s Clarity service significantly reduced the timescales, and the meticulous data preparation led to a decisive and well-planned transaction."

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