Management Consulting
Aon
Full Credential Description
Aon advised the Misys Retirement Benefits Plan on a £25 million buy-in with Legal & General (L&G), covering approximately 190 deferred and pensioner members. This transaction builds on a previous buy-in completed in 2012, which addressed around £23 million of pensioner liabilities, ensuring that all members of the plan are now insured with L&G. To facilitate this transaction, Aon employed its Pathway approach for transactions under £150 million, utilizing L&Gs Flow process designed to streamline smaller buy-in transactions. A key challenge was ensuring affordability for both the trustee and the sponsor, which Aon addressed by coordinating a premium payment mechanism that provided certainty around the contributions required. This collaborative effort among Aon, Burges Salmon, and L&G resulted in a swift and favorable outcome for the Misys Retirement Benefits Plan. The successful execution of this buy-in exemplifies how smaller pension schemes can achieve excellent results in a competitive market. Aon's experience in managing transactions of this size allowed for effective coordination among all parties, leading to a secure and beneficial resolution once the decision to proceed was made. The tailored solution provided by L&G Flow offered immediate transactable pricing, flexible premium payment options, and post-transaction support, further enhancing the benefits for the Misys Retirement Benefits Plan members.