Canada Life has completed its first-ever deferred member buy-in worth £58m with an undisclosed pension scheme.
The transaction secures the benefits of around 570 members, including over 300 deferred members. The scheme received legal advice from CMS, and Canada Life received legal advice from Eversheds alongside its in-house legal team.
Tim Coulson, managing director, bulk purchase annuities at Canada Life, commented: “By offering to protect the benefits of members it’s great to be able to deliver our first deferred scheme. As we continue to focus on developing our capability, we look forward to participating in wider opportunities in a rapidly growing market.”
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