Broadstone advised on more than £500m of bulk purchase annuity (BPA) business through SM&RT Insure last year, bringing the total value of BPA deals completed through the proposition past £1bn.

SM&RT Insure, or Set Up, Monitor & Risk Transfer, was launched by Broadstone in 2021 with the aim of supporting small and medium-sized pension schemes through bulk annuity transactions and to wind up.

Last year was a record year for Broadstone, advising on 36 BPA deals that were completed through SM&RT Insure worth a total of £508m in de-risking premiums across over 5,000 members.

These included 21 transactions worth below £10m and working on the first buyout deal using the Aviva Clarity fast track option.

Since its launch, SM&RT has supported 61 schemes de-risking total premiums exceeding £1bn, insuring the benefits of more than 9,000 members.

Broadstone said demand for de-risking solutions at the smaller end of the market looked set to remain strong in 2026, forecasting another active year of high volumes.

"I am immensely proud of our SM&RT Insure offering and dedicated team for giving so many small to medium-sized pension schemes increased confidence of a successful insurance transaction and supporting them on successful deals,” commented Broadstone head of trustee services, Christopher Rice.

“In a hugely competitive de-risking market, it is critical that smaller schemes are well-prepared and strongly positioned for an efficient transaction process. This is important to attracting insurers, executing quickly and securing an affordable price point.

“Looking ahead to 2026, we are expecting another busy year in the bulk purchase annuity market especially at the smaller end of the market, which is experiencing the highest level of demand.

“As more insurers and other vehicles engage with smaller deals, and pricing becoming increasingly competitive, trustees and sponsors of small schemes can be confident of achieving a good outcome if they prepare properly.”

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