Royal London announces buy-in with the Royal Horticultural Society 1974 Pension Scheme

• Transaction secures the benefits of 230 members
• This buy-in demonstrates Royal London's ability to support pension schemes across a broad range of sizes

Royal London, the UK's largest customer-owned life, pensions and investment provider, has completed a c.£22 million bulk purchase annuity (BPA) transaction with the Trustees of the Royal Horticultural Society 1974 Pension Scheme.

This buy-in secures the benefits of 230 members and reflects Royal London's continued commitment to supporting trustees across a broad range of pension scheme sizes, ranging from around £10 million to £360 million.

Royal London met with the trustee board earlier in the year. This evolved into a sole insurer framework which delivered a tailored solution for the trustees at an attractive pricing level.

The Trustees were advised by XPS and Stephenson Harwood.

Beatrice Male, BPA Origination Lead at Royal London, said:

"This buy-in with the Royal Horticultural Society 1974 Pension Scheme brings together two organisations with a strong sense of purpose and hundreds of years of history.

"That shared perspective was clear from our first engagement with the trustees and helped us deliver a bespoke solution to meet their objectives. We're proud to have earned their trust and look forward to delivering the high-quality service and stewardship their members deserve for many years to come."

Ash Williams, Partner at XPS, said:

"We are pleased to have led the Trustees and the RHS through the transaction, which has resulted in improved security for the members of the Scheme at a competitive price. The Scheme had a number of complexities to consider but the collaborative work of the Trustees, the RHS and the advisory team has led to an excellent outcome with an insurer that puts customer service first, which was one of the key criteria for the Trustees."

Ingrid Fernandes, Director of Finance for RHS and on behalf of the Trustee, said:

"We are delighted to be partnering with Royal London on this important step for the Royal Horticultural Society 1974 Pension Scheme. Royal London's expertise, professionalism and collaborative approach have been evident throughout the process, giving us confidence that our members' benefits will continue to be supported by a strong and trusted insurer.

"This transaction represents an important milestone for both the Scheme and the RHS. By increasing certainty around the charity's future pension obligations and strengthening the long-term financial sustainability, it supports our ability to focus on delivering our charitable mission. This includes continued investment in our world-renowned gardens, scientific research, educational programmes and our work to inspire more people to garden and connect with nature.

"We look forward to building on our relationship with Royal London as we secure an even stronger future for the Scheme and its members, while helping to ensure the RHS can continue delivering lasting public benefit for generations to come."