Aviva passes 100 transactions through small-scheme BPA solution

According to Aviva, more than 100 pension schemes have completed transactions through Aviva Clarity, its bulk purchase annuity solution designed for smaller schemes. The service, launched in 2024, aims to simplify and speed up the path to buy-out by using a standardized and fully documented process.

Of the schemes that have transacted so far, 20 have already reached full buy-out.

The insurer has also introduced a new fast-track option for 2026. The feature is intended for well-prepared schemes and allows them to move more quickly from transaction to buy-in and then to buy-out. A data validation template is used to assess readiness and improve data quality before the transaction begins.

Four schemes have already completed buy-outs using the fast-track process, with additional cases expected early this year.

Aviva said the solution is designed to reduce administrative work and give trustees greater certainty on timing and execution as smaller schemes move toward their endgame.