Oundle School completes pension buyout

Oundle School, Northamptonshire, has completed a £5 million bulk purchase annuity transaction with Canada Life and JLT Employee Benefits.

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The buyout deal, which covers around 150 members of the school’s pension and life assurance plan for non-teaching staff, was secured by JLT Employee Benefits, alongside a trivial commutation exercise.

The transaction represents a de-risking step for the pension plan’s trustees.