Broadstone advises STS Field Grant Limited Pension Scheme on £5m full scheme buy-in with Aviva

July 6, 2026

STS Field Grant Limited Pension Scheme (the “Scheme”) has secured a £5m full scheme buy-in with Aviva.

The Scheme, sponsored by Key Technologies Limited (the “Company”), is a leading manufacturer of specialist ammunition and pyrotechnics, which was keen to support the Trustees in their objective of protecting member benefits.

The transaction, completed in June 2026, secures the pensions of 14 deferred and 34 pensioner members of the Scheme and completes the buy-in of all Scheme liabilities. The transaction was achieved using the assets of the Scheme and the transaction was fully backed and supported by the Company.

After establishing the project was feasible, Broadstone prepared the Scheme using their SM&RT Insure process which meant the Trustees were able to secure interest from multiple insurers. The Trustees then chose to proceed with Aviva using their streamlined service, Clarity.

Broadstone provided annuity broking alongside their existing services for actuarial, investment consultancy and Scheme administration. Legal advice to the Trustees was provided by TLT LLP, and Aviva used in-house legal support.

“Despite the perception of a limited market for small schemes like the STS Scheme, the SM&RT process has again delivered choice and flexibility. This enabled the Trustees to secure their members’ benefits with an insurer that best met their needs and at a competitive price.”
Bob Jenkinson, Deal Lead at Broadstone

The Trustees stated, “We are delighted to have completed a buy-in with Aviva. The preparatory work undertaken enabled us to accelerate the process, and our Advisers navigated us through to the transaction by providing clear, concise and Scheme-specific advice. This allowed us to make key decisions and secure our members’ benefits with Aviva. We truly appreciate the Company’s support throughout the transaction, and the project exemplifies a clear team effort with a mutually beneficial outcome.”

“We are pleased to have helped the Trustee secure the benefits of all scheme members. Working closely with Broadstone, we were able to complete this transaction efficiently and provide the certainty that comes from having members’ pensions backed by Aviva. This transaction demonstrates that schemes of all sizes can successfully access the bulk annuity market and achieve a positive outcome for their members.”
Paul Donnely, BPA Senior Deal Manager at AVIVA