Consort Equipment pension scheme completes £4m full scheme buy-in

The Consort Equipment Products pension scheme has completed a £4m full scheme buy-in with an unnamed insurer, covering 31 pensioners and six deferred members.

The transaction was led by K3 Advisory, while actuarial and investment advice was provided by Hughes Price Walker and legal advice was provided by Blake Morgan.

Commenting on the news, Consort trustee and managing director, Ed Spankie, stated: “Our priority is always full security for our members’ benefits. As a small scheme, it can be challenging to find the support we need, and we were unsure that a buy-in would even be an option for us.

“Working closely with the team at K3, we were able to see that it was an accessible opportunity and they helped us get there – the whole process was smooth and efficient, and we have been able to secure our members’ hard-earned pensions.”

K3 Advisory managing director, Adam Davis, highlighted the transaction as demonstration that size is not an obstruction if a scheme is well organised and ready, and nor should it ever be a hinderance to accessing the market.

“Working closely with the client and its advisors we were able to present a well-prepared scheme to the insurance market,” he continued.

“We are pleased to have been able to complete yet another deal for a small scheme in a very busy and competitive transaction market.”


This article first appeared on our sister title, Pensions Age.

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