Hymans Robertson launches risk transfer and investment service for small pension schemes

Hymans Robertson has launched TRUST, a new end-to-end risk transfer and investment service, designed to help small pension schemes – typically those with £150m or less in assets – navigate and execute bulk annuity transactions. Demand in the sub-£150m risk transfer market is surging, with deals of this size representing 80% of completed transactions last year. For many schemes, a bulk annuity purchase is the most significant financial transaction they’ll ever undertake.

Recognising this, TRUST brings together the specialist risk transfer and investment expertise at the leading pensions and financial services consultancy, into one integrated service. By bringing together the best pricing premium negotiation and asset realisation strategies, schemes are able to maximise overall transaction value.

TRUST will harness the experience of the firm’s risk transfer team, which led on almost a third of the deals transacted in the risk transfer market by volume in 2024. TRUST is also powered by the firm’s deep investment research expertise, which benefits a pensions client book with total investment assets under advisory of over £300bn. 

Commenting on the launch of the new service, Iain Church, Head of Core Transactions and Risk Transfer Specialist, Hymans Robertson, says: 

“We’re thrilled to launch TRUST, our new combined risk transfer and investment service. Buy-in broking processes, particularly for smaller schemes, risk narrowly focusing on how to deliver the best possible price from an insurer. Whilst price is certainly important, this approach misses the other side of the equation. Placing equal focus on how to realise the best value from the scheme’s assets makes a real difference to the end financial outcome.”

“TRUST ensures smaller schemes benefit from the best of both worlds, by utilising a single risk transfer and investment team that speaks the same language as insurers and uses these insights to tailor the advice to clients accordingly. Having already delivered on the benefits of TRUST to early clients, I’m excited to see it now become available to the wider market.”

Commenting on the importance of having investment specialists in the team, Russell Oades, Investment Consultant, Hymans Robertson, adds:

“Purchasing a bulk annuity is likely the most important asset transition in a scheme’s life, and the work involved is highly specialised compared to traditional investment consulting.”

“Insurer insights are critical to making the right investment decisions leading up to a transaction, as the way insurers invest is dynamic. Insurers will pivot their strategic asset allocations in response to changing market conditions. For instance, certain insurers are currently prioritising gilts-based investment strategies compared to historically higher allocations to credit.”

“By leveraging TRUST, smaller schemes can be equally dynamic to evolving market conditions. This will ensure that their portfolio is ideally positioned to manage the risks posed by fluctuations in insurer pricing. A single source of risk transfer and investment advice ensures schemes are primed to quickly and efficiently capture value when a market opportunity presents itself.” 

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