No Result
View All Result
Benefits Expert
  • About
  • Advertise
  • Alerts
  • Events
  • Contact
  • NEWS
  • IN DEPTH
  • PROFILE
  • PENSIONS
  • GLOBAL REWARDS
  • FINANCIAL BENEFITS
  • HEALTH & WELLBEING
  • DIVERSITY & INCLUSION
  • PODCAST
No Result
View All Result
Benefits Expert
  • NEWS
  • IN DEPTH
  • PROFILE
  • PENSIONS
  • GLOBAL REWARDS
  • FINANCIAL BENEFITS
  • HEALTH & WELLBEING
  • DIVERSITY & INCLUSION
  • PODCAST

Chubb completes £1 billion pensions buy-in

by Kavitha Sivasubramaniam
05/07/2023
pension buy-in
Share on LinkedInShare on Twitter

Chubb Pension Plan and Chubb Security Pension Fund have completed a £1 billion pensions buy-in for around 14,000 of the schemes’ members.

The bulk purchase annuity deal for the schemes, which are sponsored by APi Group Corporation subsidiaries, was agreed last month (June) and carried out by Standard Life.

Barnett Waddingham provided lead actuarial and investment advice services, while CMS delivered legal advice to both groups of trustees.

Brian McGowan, chairman of both trustee boards, said: “We are delighted to have partnered with Standard Life to provide long term security and financial certainty for all members. On behalf of the trustees, I would like to thank our advisers Barnett Waddingham and CMS for their advice and to thank the sponsoring employer for their support. The various teams worked together extremely well to secure this complicated deal.”

Also commenting on the deal, Matt Richards, senior business development manager at Standard Life, added it marked “a smooth and efficient transaction that has insured the liabilities for almost 14,000 members and enabled the schemes to successfully de-risk in an uncertain economic environment”.

He explained: “Throughout the transaction process there has been an open and collaborative approach between all parties, which has been key to the success of this transaction which we are delighted to have completed with the trustees. Having prepared well, and being willing to move quickly, the trustees were able to ensure a favourable outcome for their members.”

Simon Bramwell, partner at Barnett Waddingham, said: “We are very proud to have advised the trustees on these sizeable and complex buy-ins. This could not have been achieved without the significant amount of preparatory work carried out by the trustees and the efforts of all parties working closely together to get the best result for both schemes.”

Amanda Chammings, partner at CMS, commented: “Collaboration with Barnett Waddingham, Standard Life and all other parties involved was a key element to delivering the buy-ins on time in such a busy market. It’s really pleasing to secure such a positive outcome for members of the schemes.”

 

RELATED POSTS

Neil Mullarkey, communications, expert, author, improv

Why marketing will define tomorrow’s reward leaders

Cancer risk, health check up, health MOT

Reframe Cancer teams up with insurer to offer ‘groundbreaking’ benefit

Next Post
CNWL NHS Foundation Trust recognised as menopause friendly

CNWL NHS Foundation Trust recognised as menopause friendly

stress

Cost of living stressful for two in three over 40s

SUMMIT

BENEFITS UNBOXED PODCAST

Benefits Unboxed
Benefits Unboxed

The podcast from Benefits Expert, the title for HR, reward and benefits professionals.

Seasoned professionals examine the challenges and innovations in today’s employee benefits, reward and HR sector. Every episode, they will unbox a key issue and unpack what it really means for employers and how they can tackle it.

The regulars are Claire Churchard, editor of Benefits Expert; Carole Goldsmith, HR director at the Royal Horticultural Society, and Steve Herbert, consultant and rewards & benefits veteran.

Benefits Unboxed – Hybrid work: reality versus rhetoric
byBenefits Expert from Definite Article Media

Return-to-office mandates are a topic that’s generating plenty of heat in the media, but how closely do the headlines match workplace reality? 

In this episode, one of a three-part series of 10-minute podcasts, hosts Claire Churchard and Steve Herbert discuss data that shows remote or home working is on the rise.

We look at what this means for HR, from balancing employee flexibility with business needs, to ensuring benefits packages remain fair and accessible. We discuss the pinch points, and the opportunities, in building the new normal of work.

Benefits Unboxed – Hybrid work: reality versus rhetoric
Benefits Unboxed – Hybrid work: reality versus rhetoric
31/08/2025
Benefits Expert from Definite Article Media
Search Results placeholder

GUIDE TO PROTECTING YOUR WORKFORCE



REQUEST A FREE COPY

OPINION

Neil Mullarkey, communications, expert, author, improv

Why marketing will define tomorrow’s reward leaders

Steve Herbert, consultant, ambassador, reward, benefits, HR strategy

Steve Herbert: The art of the deal?

Lorna Ferrie, legal and compliance director, Mauve Group

Lorna Ferrie: hybrid is not a loophole, remote teams can’t ignore the pay transparency push

Holly Coe, Innecto Reward Consulting

Holly Coe: friendship is an overlooked superpower when tackling workplace absenteeism

SUBSCRIBE

Benefits Expert

© 2024 Definite Article Limited. Design by 71 Media Limited.

  • About
  • Advertise
  • Privacy Policy
  • Terms & Conditions
  • Contact

Follow Benefits Expert

No Result
View All Result
  • News
  • In depth
  • Profile
  • Pensions
  • Global rewards
  • Financial benefits
  • Health & wellbeing
  • Diversity & Inclusion