- M&G completed an £85 million Bulk Purchase Annuity transaction for the Altro Pension Scheme.
- The deal secures pension benefits for 740 members and their dependents, M&G said.
- M&G used its ‘BPA Plus’ proposition, which combines security with potential future investment outperformance.
LONDON, UK — M&G plc completed an £85 million Bulk Purchase Annuity (BPA) transaction for the Altro Pension Scheme. The deal secures pension benefits for 740 members and their dependents.
The transaction, executed by M&G’s subsidiary Prudential Assurance Company Limited, was completed in April 2026, M&G said in an emailed press release today. The Altro Pension Scheme belongs to Altro Limited, a UK-based manufacturing company.
Transaction Details
The Altro Pension Scheme Trustees selected M&G following a competitive process. They cited M&G’s financial strength, track record, and the flexibility of its BPA Plus proposition. Aon provided broking, investment, and actuarial advice for the deal. Pinsent Masons and Eversheds acted as legal advisers to the Trustees. The transaction marked the first use of Aon and Eversheds Sutherland’s Pathway platform with M&G.
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BPA Plus Proposition
M&G’s ‘BPA Plus’ proposition combines the security of a traditional BPA with the opportunity for members to benefit from potential future investment outperformance. This approach allows schemes to secure core benefits while sharing in potential discretionary bonuses over time. The proposition leverages M&G’s £132 billion With-Profits Fund.
Market Outlook
M&G is a founding member of the BPA market with over 25 years of experience. The company expects to achieve £3 billion to £4 billion of annual BPA sales by 2027. This growth builds on the launch of its BPA Plus offering.