RAC pension scheme secures £1.3bn buy-in with Aviva, benefiting 19,000 members by August 2024.

The RAC pension scheme has secured a £1.3 billion buy-in with Aviva, safeguarding retirement benefits for roughly 19,000 members. Finalized in August 2024, the deal includes the novation of an existing longevity swap and asset transfers. This transaction underscores Aviva's commitment to the pensions sector and enhances its reputation as a leading pension provider. The scheme also offers additional employee benefits, including wellness initiatives.