Small scheme completes buyout in six months
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The pension scheme of a Kent-based fruit and vegetable supplier that went into administration in late 2023 has completed a £4.8m buyout with a large insurer.
The buyout of the A Gomez Ltd Retirement Benefits Scheme was completed with Aviva in January, following a buy-in that took place in July 2024. Apex Pension Trustees are the sole trustee.
“Apex were appointed to the scheme in November 2023, and shortly afterwards the sponsoring employer went into administration. The focus turned to ensuring full benefits were secured for members in the scheme, in a short time,” explained Nigel Modlinsky from Apex Pension Trustees.
Thanking Aviva, advisers XPS Group and law firm Burges Salmon, he added: “From a standing start, we have moved through data cleanse, quotation phase, buy-in to buyout in less than a year.”
The insurer credited those involved and its streamlined service Aviva Clarity for a swift transaction. Emma Thomas, BPA deal manager at Aviva, said: “Thanks to excellent preparation by the trustees and their advisers at XPS, this was an incredibly well run and collaborative process, which helped it move at pace.”
The buyout of the A Gomez Ltd Retirement Benefits Scheme was completed with Aviva in January, following a buy-in that took place in July 2024. Apex Pension Trustees are the sole trustee.
“Apex were appointed to the scheme in November 2023, and shortly afterwards the sponsoring employer went into administration. The focus turned to ensuring full benefits were secured for members in the scheme, in a short time,” explained Nigel Modlinsky from Apex Pension Trustees.
Thanking Aviva, advisers XPS Group and law firm Burges Salmon, he added: “From a standing start, we have moved through data cleanse, quotation phase, buy-in to buyout in less than a year.”
The insurer credited those involved and its streamlined service Aviva Clarity for a swift transaction. Emma Thomas, BPA deal manager at Aviva, said: “Thanks to excellent preparation by the trustees and their advisers at XPS, this was an incredibly well run and collaborative process, which helped it move at pace.”
