10 November 2026: M&G plc ("M&G") today announces that it has completed a £110 million Bulk Purchase Annuity ("BPA") transaction with the Trustee of the Clariant Pension Plan, securing the pension benefits of around 900 members. The transaction was the Plan's third buy-in, with the Trustee selecting M&G following a competitive process.
This is one of the latest deals to be completed through M&G's innovative 'BPA Plus' proposition, utilising the firm's £136bn With-Profits Fund and was completed in July 2026. BPA Plus combines the security of a traditional bulk purchase annuity with the scale of the With-Profits Fund.
M&G is a founding member of the BPA market with over 25 years of experience implementing and administering bulk annuity transactions, backed by a robust balance sheet and a firm commitment to meeting our customers' needs. Building on the launch of BPA Plus, the business expects to achieve £3-£4 billion of annual BPA sales by 2027.
This transaction was executed by the Prudential Assurance Company Limited ("Prudential"), M&G's wholly owned subsidiary providing life and pensions solutions. The Trustee, chaired by BESTrustees Limited, was advised by WTW, Howden were administrator and Mercer provided investment advice, with DLA Piper acting as the Plan's lawyers.
Rosie Fantom, Head of Pension Risk Transfer at M&G, said: "We are delighted to have worked with the Clariant Pension Plan, WTW and the other advisers on this transaction. It shows the continued appeal of solutions which secure member benefits while providing greater flexibility and value. BPA Plus has helped the Trustee achieve an important step in the Plan's risk transfer journey. We are proud to have delivered a solution that meets the Plan's objectives and supports better outcomes for members."
Tom Ashworth, Senior Director in Pension Risk Transfer at WTW said: "Having partnered with the Trustee on the previous transactions, it was a pleasure to advise the Trustee on this one. We worked closely with the Trustees and other advisers throughout a competitive process to find the solution that best met the Plan's objectives, balancing strong pricing, benefit flexibility and operational considerations. We're delighted to have helped secure a strong outcome for members."