SG Pension Fund has completed a £160m bulk purchase annuity (BPA) buy-in transaction with Aviva, securing the benefits of more than 1,900 members.
The pension fund, sponsored by Portakabin, a provider of modular building infrastructure, has finalised the transaction in August 2025.
The transaction ensures a positive member experience by enabling a section of pension fund members to continue accessing their additional voluntary contribution (AVC) funds as a first source of tax-free cash in future, using Aviva’s defined benefit and contribution (DB&C) policy, which is integrated with the Aviva Master Trust DC proposition.
The trustees were advised by Aon, which led the process, with legal advice provided by Gowling.
Tony Sharp, chair of trustees, said the fund worked closely with the sponsor and Aon, through the Joint Working Group. “The trustee will continue to support the fund over the coming years and look forward to working with the team at Aviva.”
Sean Rooney, senior deal manager at Aviva, added: “The transaction demonstrates our continued focus on delivering tailored solutions that meet the evolving needs of our clients.”
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