What's Happening?
The Stantec Pension Plan (UK Section) has successfully completed a full-scheme buy-in with Aviva, ensuring the benefits for its 629 deferred and 51 pensioner members. This transaction, finalized in May 2026, involved the buy-in of all scheme liabilities
using the scheme's assets without requiring additional contributions from the sponsor, Stantec UK Limited. The process was facilitated by Broadstone, which provided annuity broking, actuarial services, and investment consultancy, while DLA Piper offered legal advice. Aviva, chosen for its member-focused approach, utilized its Clarity proposition to streamline the transaction. The trustees emphasized the importance of member experience and efficient post-transaction management in their selection process.
Why It's Important?
This buy-in is significant as it provides long-term security and stability for the members of the Stantec Pension Plan. By securing the benefits through Aviva, the trustees have ensured that the members' pensions are protected against market volatility and other financial uncertainties. This move reflects a growing trend among pension schemes to de-risk their portfolios by transferring liabilities to insurers. It highlights the importance of strategic planning and collaboration among trustees, advisers, and insurers to achieve favorable outcomes for pension scheme members. The transaction also underscores the role of comprehensive due diligence and competitive pricing processes in selecting the right insurer.
