Clariant Pension Plan secures £110m buy-in with M&G

The trustee of the Clariant Pension Plan has agreed a £110m buy-in with M&G, securing the pension benefits of around 900 members.

The bulk purchase annuity (BPA) deal, completed in July 2026, was the scheme's third buy-in. The trustee selected M&G following a competitive process.

The transaction was completed through M&G's BPA Plus offering and was executed by Prudential Assurance Company, M&G's wholly owned life and pensions subsidiary.

M&G said BPA Plus combines a bulk purchase annuity with its £136bn With-Profits Fund.

The insurer added that it expects annual bulk purchase annuity sales of £3bn to £4bn by 2027 following the launch of BPA Plus.

M&G head of pension risk transfer, Rosie Fantom, said the transaction, “shows the continued appeal of solutions which secure member benefits while providing greater flexibility and value”, adding that, “BPA Plus has helped the trustee achieve an important step in the plan’s risk transfer journey”.

The trustee, chaired by BESTrustees, was advised by WTW.

WTW senior director in pension risk transfer, Tom Ashworth, commented: “We worked closely with the trustees and other advisers throughout a competitive process to find the solution that best met the plan’s objectives, balancing strong pricing, benefit flexibility and operational considerations.”

Other advisers to the transaction included Howden as administrator, Mercer as investment adviser and DLA Piper as legal adviser to the scheme.



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.


AI, finfluencers and the future of broking
The mortgage industry is evolving faster than ever. In this MoneyAge video, we examine the opportunities and challenges redefining the broker landscape, from AI-powered lending and changing customer expectations to housing affordability, property supply and the rise of financial influencers. Our guest from Chorley Building Society shares practical insights on what brokers need to do to stay relevant and thrive in a rapidly changing market.

Pure Retirement and the role of lifetime mortgages
Senior content editor Dan McGrath is joined by strategic account manager at Pure Retirement, Tash Phillips, to discuss the lifetime mortgage market, the role of equity release in the industry and how the firm’s range of products, including its interest servicing lifetime mortgage, can serve the sector moving forward in the ever-changing lending space.

Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget

NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?