XPS Pensions Group has launched Xpedite, a risk settlement service tailored for pension schemes with £100m or less in AUM, that seeks to streamline buy-in transactions by increasing insurer engagement, reducing transaction risk and ensuring fixed fees.
The solution was developed by XPS in close collaboration with some of the top UK insurance companies that specialise in dealing with smaller schemes. According to the firm, it features streamlined processes so that smaller schemes that find it difficult to get the attention of insurers, can have their transactions followed quickly and on a fixed-fee arrangement.
XPS Pensions Group head of risk settlement Stephen Purves says: “The market for buy-in transactions is a busy one, and smaller schemes can sometimes get lost in the melee. Our new Xpedite service offers smaller schemes an efficient and predictable route to buy-in transactions, cutting their costs and lowering transaction risk.
“This is more important than ever given that an increasing number of schemes have seen their funding position improve considerably, particularly for DB schemes that are approaching maturity.”
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