Arc Pensions Law advises trustee of Finnair Oyj Retirement Benefit Scheme on a £4 million buy-in and subsequent buyout using the newly introduced Aviva Clarity fast track service.
Arc Pensions Law has advised the trustee of the Finnair Oyj Retirement Benefit Scheme on a full scheme buy in and subsequent buy out with Aviva, completed in under two months. The transaction, valued at £4 million, secures the benefits of all 20 previously uninsured members.
The team at Arc comprised Jane Kola, Claire Goodby and Nneka Egbuji.
Jane Kola commented:
“We were pleased to advise the trustees on this important milestone. Completing a buy-in and moving to full buyout within such a compressed timeframe reflects the exceptional level of preparation and collaboration across all parties which was possible due to the clear leadership of Trustee Nick Boyes of Able Governance who saw the interests of members would be well served by using the Aviva Clarity approach. Good support from the sponsor Finnair was also key together with careful planning and close co-operation between the advisers.”
News of the buy-in buyout was published in Pensions Age, Pensions Expert, Law360, Corporate Adviser, Actuarial Post, Workplace Journal and Professional Pensions.
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