Cancer Research UK Pension Scheme agrees £280m buy-in with Standard Life

The Cancer Research UK Pension Scheme has agreed a £280m buy-in with Standard Life, covering the benefits of 2,800 members.

Mercer acted as the trustee's lead transaction adviser, with investment advice from LCP and legal advice from Sackers.

The deal, which concluded in March 2025, saw the trustee and Cancer Research UK collaborate closely with Standard Life to meet the scheme's de-risking objectives and secure the buy-in through a 'bespoke' offering.

BPA transaction manager at Standard Life, Alex Oakley, said his team was "delighted" to have been selected to partner with the trustee and help them achieve their de-risking objectives.

"Throughout this process, we worked closely with the Mercer risk transfer team, maintaining open communication at every stage of the process," he continued.

"These established ways of working together were key to delivering a bespoke solution that addressed the scheme's and the trustee's unique needs."

Oakley also stressed the importance of the scheme's careful preparation and clear objectives.

"This meant our team could focus on their priorities and efficiently secure member benefits," he said.

Cancer Research UK pension trustee board chair, Roger Cooper, added: "The charity and trustee were targeting a transition to a full buy-in of the scheme by 2032.

"I am delighted that, with the support of our advisers and the charity, the trustee has achieved this major step towards the scheme's eventual winding-up ahead of its original target."

Cooper described the support from Mercer, Sackers, and LCP as "instrumental" in ensuring the scheme was well-positioned to go to market and complete the buy-in transition efficiently and in a timely manner.

"This is a great outcome for the trustee, the charity, and, most importantly, the scheme's members," he concluded.



Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.


Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.