The trustee of the Greggs plc 1978 Retirement and Death Benefit Scheme has secured a £100m buy-in deal with Aviva, covering the majority of the scheme’s liabilities.
Greggs provided additional funding support to help facilitate the buy-in and increase the long-term security of all members’ benefits, as part of the trustee’s long-term de-risking strategy.
Hymans Robertson acted as the lead transaction advisers on the deal, while legal advice was provided to the scheme by Eversheds Sutherland.
Commenting on the deal, chair of the trustee, David Brown, said: “I am delighted that we have been supported by Greggs and our advisers Hymans Robertson, Eversheds and Barnett Waddingham, to enable to us to reach a buy-in agreement with our chosen insurance company Aviva.
“The partnership with Aviva allows us to take the next step in our de-risking strategy.”
Aviva deal manager, Paul Donnelly, added: “We’re delighted to have supported the trustee to achieve their goal of de-risking their pension scheme.
“The trustee and Greggs had clear priorities, from the outset - to partner with a financially strong and trusted insurance company, with a focus on first-class member care and a responsible investment ethos.”
Latest News
-
Average mortgage rates creep up for first time in eight months
-
Titan Wealth agrees acquisition of Blacktower Group
-
Savers increasing allocations to fixed accounts, research shows
-
Air warns older borrowers could be in for mortgage shock
-
SIPP withdrawal requests jump 33% ahead of Autumn Budget
-
Vida Group’s profit increases 463% in H1
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?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories