Oundle School completes pension buyout

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

Pension pot

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.