The Skipton Building Society Group Pension Scheme has completed a £105m full scheme buy-in with Rothesay in January 2025, securing the benefits of all 705 scheme members, including 396 pensioners and dependents and 309 deferred members.

Mercer acted as the lead broker on the transaction, while Eversheds Sutherland provided legal advice to the trustee.

The pension scheme was sponsored by Skipton Building Society, the UK's fourth-largest building society, which offers mortgages, savings and financial advice through a network of 82 branches.

Skipton Group chief financial officer, Paul Chambers, commented on the deal: "We are delighted that the hard work invested in preparing our pension scheme for an insurance transaction has resulted in an agreement that offers future security for our members.

"The market remains hugely competitive, so the upfront organisation, alongside the expertise of our advisers and Rothesay's execution capabilities, were crucial in speedily transacting. It is pleasing to have protected the pensions of all 705 scheme members who can look forward to retirement with confidence."

Adding to this, Rothesay business development, Róisín O'Shea, said the scheme was "well-prepared," which enabled a quick and efficient execution to secure the future for its members.

"In a buoyant bulk purchase annuity market, Rothesay continues to demonstrate the strength of its de-risking capabilities, providing innovative solutions for our clients and award-winning customer service," she added.

Trustee chair, Steve Southern, also said that the deal represented a "great outcome" for the company and scheme members.

"In a busy pension risk transfer market, schemes must prepare thoroughly to give themselves the best possible chance of attracting and engaging an insurer," he continued.

"The speed of this buy-in is a testament to the scheme's planning, which, combined with Rothesay's proven offering, allowed for a rapid transaction."

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