The Fujifilm UK Limited Pension and Life Assurance Scheme has finalised a £46m buy-in with Royal London, securing the benefits of 484 members.
The scheme sponsor is Fujifilm UK Limited, the UK subsidiary of Japanese technology group Fujifilm.
Royal London said that the transaction focused on securing members' benefits and the support provided to members, with a solution developed to meet the scheme's requirements.
According to the trustees, the deal followed a competitive process and was supported by preparatory work undertaken by the scheme.
Fujifilm UK Limited Pension and Life Assurance Scheme chair of trustees, Duncan Edgar, said: “The detailed preparation undertaken by the scheme, together with the expert guidance from our advisers at Marsh and CMS, was crucial in achieving this successful outcome.”
Commenting on the transaction, Royal London BPA origination lead, Beatrice Male, added that from the outset, there had been “a strong shared commitment to delivering excellent outcomes for members and providing a high-quality experience”.
During the transaction, Marsh and CMS acted as advisers to the trustees.
Marsh People and Investments risk transfer adviser, Kevin Boyle, described the transaction as a “major milestone” that will provide cost certainty for the sponsor and long-term security for the members.
He noted: “This transaction underscores the opportunities available to schemes of this size.”
