Aviva completed a £134 million BPA buy-in transaction with the Quest UK Pension Scheme, securing benefits for over 440 members and reinforcing its relationship with Givaudan UK Limited.

Target Information

Aviva has successfully completed a £134 million bulk purchase annuity (BPA) buy-in transaction with the Quest UK Pension Scheme, securing the benefits of over 440 members. This transaction, concluded in July 2025, is a testament to Aviva's commitment to provide long-term security for pension scheme members. The scheme is sponsored by Givaudan UK Limited, a global leader in the manufacturing of flavors and fragrances, based in Switzerland.

This recent undertaking marks the second collaboration between Aviva and Givaudan, the first having taken place in 2021 with the Givaudan UK Pension Plan, indicating a deepening relationship between the two entities.

Industry Overview in the UK

The UK pensions industry has seen a significant transformation over recent years, with an increasing shift towards securing member benefits through bulk purchase annuities. This transition is driven by a desire among pension scheme