Aviva Completes £270m Annuity Buy-In with Morrisons Retirement Saver Plan
Aviva plc has completed a £270 million bulk purchase annuity buy-in with the Morrisons Retirement Saver Plan, securing benefits for over 32,000 deferred members. This is Aviva's third buy-in with Wm Morrison Supermarkets Limited's pension schemes. The transaction, finalized in March 2025, also included a Winding-Up Lump Sum exercise for around 30,000 members. Aon led the transaction, with legal advice from Clifford Chance and DLA Piper, highlighting Aviva's capability in managing complex transactions and providing tailored solutions.
Aviva plc has announced the completion of a £270 million bulk purchase annuity buy-in with the Morrisons Retirement Saver Plan. This marks the third buy-in Aviva has executed with pension schemes sponsored by Wm Morrison Supermarkets Limited. The transaction, completed in March 2025, secures the benefits for over 32,000 deferred members of a substantial Cash Balance Plan. Additionally, Aviva facilitated a Winding-Up Lump Sum exercise for around 30,000 members. The deal underscores Aviva's ability to manage complex transactions and deliver innovative solutions tailored to client needs, providing both security and flexibility for beneficiaries. Aon led the transaction on behalf of the trustees, with Clifford Chance and DLA Piper providing legal advice.
