Aviva completes £4.8m buy-out with A Gomez Limited Retirement Benefits Scheme, in 6-month process

Aviva has today announced the completion of a £4.8 million bulk purchase annuity buy-out with the A Gomez Limited Retirement Benefits scheme. The buy-out transaction was completed in January 2025, with the buy-in having taken place in July 2024. Apex Pension Trustees are the sole trustee and XPS Group advised on the transaction.

The deal is the latest in a series completed through Aviva Clarity, the insurer’s streamlined service, that simplifies and expediates the transaction process, making the BPA market more accessible for smaller schemes.

Emma Thomas, BPA Deal Manager at Aviva, said: “Thanks to excellent preparation by the Trustees and their advisers at XPS, this was an incredibly well run and collaborative process, which helped it move at pace.  Our Aviva Clarity process enabled the deal to be processed efficiently straight through to finalisation, which made for a seamless transaction.”

Nigel Modlinsky, of Apex Pension Trustees commented: “Apex were appointed to the scheme in November 2023, and shortly afterwards the sponsoring employer went into administration.  The focus turned to ensuring full benefits were secured for members in the scheme, in a short time. The swiftness of data diligence undertaken with Burges Salmon and XPS, along with Aviva’s streamlined Clarity service, were vital to a quick and seamless transaction. From a standing start, we have moved through data cleanse, quotation phase, buy-in to buy-out in less than a year.  It shows what can be done if you surround yourself with motivated people and I extend my thanks to all involved at Aviva, XPS and Burges Salmon for a positive experience.”

Harry Harper, Partner, Risk Settlement, XPS Group, added: “We were delighted to lead on this high-speed and efficient bulk annuity process and help deliver a great outcome for scheme members. Aviva’s Clarity service significantly reduced the timescales, and the meticulous data preparation led to a decisive and well-planned transaction.”

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About XPS Group

_{XPS Group is a leading UK consulting and administration business specialising in the pensions and insurance sectors. A FTSE 250 company, XPS combines expertise and insight with advanced technology and analytics to address the needs of over 1,400 pension schemes and their sponsoring employers on an ongoing and project basis. We undertake pensions administration for over one million members and provide advisory services to schemes and corporate sponsors in respect of schemes of all sizes, including 83 with assets over £1bn.  We also provide wider-ranging support to insurance companies in the life and bulk annuities sector.}

_{In 2024 XPS was awarded Actuarial/Pensions Consultancy of the Year for the third time in four years and Sponsor Covenant/IRM Adviser of the Year at the UK Pensions Awards.  XPS was also awarded Covenant Adviser of the Year Award at the Pensions Age Awards in 2024.}

_{Previous wins at UK Pension Awards;}

_{2023 Third-Party Administrator of the Year and Fiduciary Evaluator of the Year}  

_{2022 Actuarial/Pensions Consultancy of the Year, Investment Consultancy of the Year and Third-Party Administrator of the Year.}

_{2021 Third-Party Administrator of Year}

_{XPS won Best Pensions Adviser at the 2023 Corporate Adviser Awards.}

_{For our business culture in 2024 XPS was recognised for the Best Diversity, Equality and Inclusion initiative at the UK Company Culture Awards and was awarded the Diversity and Inclusion Excellence Award at the UK Pensions Awards. In 2024. XPS won the organizational award for supporting development at the Professional Pensions Rising Star Awards. XPS was also recognised as a Disability Confident Leader employer.}

_{XPS has been a signatory of the Financial Reporting Council’s UK Stewardship Code since 2021.}