News and Views

Sole Trustee of CBA's £420m buy-in

by Harus Rai, Head of Sole Trusteeship

Capital Cranfield is delighted to have supported the Commonwealth Bank of Australia (UK) Staff Benefits Scheme as Sole Trustee through the £420m buy-in of all its Defined Benefit liabilities.

Our Sole Trustee team was led by Peter Thompson who said “We are very pleased to have insured the pension benefits for all members of the defined benefit section of the scheme, achieving our goal of providing members with long-term certainty”.

Head of Sole Trusteeship Harus Rai added “End game planning is a common driver behind a move to Sole Trusteeship and I am very pleased that Peter and the team have obtained such an excellent outcome for both the Bank and the Scheme members. The size of the CBA Scheme is further evidence that Sole Trusteeship continues to gain traction with larger schemes”.

Professional Pensions full report of the deal can be found on this link