Uniq has signed a £830m buy-in contract to sell its Pension Scheme to Rothesay Life.

The policy structure designed by LCP and secured with Rothesay Life is an important stride in realising this objective on behalf of the 20,000 members of the Scheme.

Aaron Punwani and Richard Mills led the LCP advisory team, which advised the Scheme Trustee competitive tendering process.

Trustee of the Uniq Pension Scheme’s Chairman Chris Martin said that since the deficit-for-equity swap earlier this year, their main objective has been to secure – with an insurance company – benefits at least equal in value to PPF compensation with the possibility of a top-up above that level.

Rothesay Life CEO Addy Loudiadis said that they are very pleased that the Trustee selected Rothesay Life as the insurer tasked with ensuring the long term security of the membership of the Scheme.

"By locking in the financial terms quickly we were able to demonstrate our ability to complete innovative financial structuring to the direct benefit of the members," Loudiadis said.