DLA Piper advises Aviva on Morrisons Retirement Saver Plan buy-in

DLA Piper has advised Aviva on the completion of a GBP270 million bulk purchase annuity buy-in with the Morissons Retirement Saver Plan – RSP Section. The transaction completed in March 2025, securing the benefits of over 32,000 deferred members.

As part of this transaction, Aviva also underwrote a Winding-Up Lump Sum (WULS) exercise for around 30,000 members. This transaction is the third buy-in that Aviva has completed with schemes sponsored by Wm Morrison Supermarkets Limited, one of the UK's largest supermarket chains.

A team from DLA Piper's London office worked on the transaction led by Amrit McLean, partner and head of de-risking. She was supported by legal director Rozet Shah, and senior associate Oritsema Ejuoneatse.

Amrit McLean, partner, commented: "It is great to see the team collaborating to deliver innovation in this busy and competitive market. We are proud to have worked with Aviva on delivering another smooth and strategically important outcome. Congratulations to all involved."