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Buy-in / Buy-Out

In order to eliminate all pension risk exposure, a sponsor can secure the pension scheme benefits with an insurer.

Under a “buy-in” arrangement, a specified part of the liabilities of a scheme are secured with an  insurer, eg liabilities relating to all pensioners or a specified tranche/section of members. The liabilities remain in the scheme, but the scheme holds a corresponding insurance policy as an asset.

Under a “buy-out” arrangement, the liabilities of the scheme, along with all associated risks, are fully transferred out of the scheme to the insurer.

Our commercially focused team has extensive experience advising sponsors and scheme trustees on all aspects of such transactions, including:

  • Estimating Buy-in/Buy-out costs
  • Assessing the value of a Buy-in/Buy-Out (including ongoing monitoring and trigger-setting)
  • Preparing scheme for Buy-in/Buy-Out (eg data cleansing)
  • Undertaking a competitive process with insurers
  • Negotiating financial and contractual terms
  • Preparing and Implementing scheme wind-up

Key contact

  • Richard Weisz
    Lead Senior Manager,
    +44 20 7007 2619
  • David Robbins
    Partner,
    +44 20 7007 2810
  • Paul Geeson
    Partner,
    +44 20 7303 0878
  • Tony Clare
    Partner,
    +44 161 455 8392

Find out more

Useful links

  • Meet the team
  • Submit a request for proposal
  • Contact us
  • Careers
  • Return to Pensions Advisory homepage
  • Return to Actuarial & Pensions homepage

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