Paternoster leads surge in pension buyouts

Paternoster, the London-based bulk purchase vehicle, is leading the surge in voluntary bulk buyouts of corporates' pension schemes. The company has signed deals with 19 schemes since its inception in June last year, with seven of those in the last quarter, giving a total of assets transferred of £260 million as at March 31.

Paternoster has written business on insolvent compulsory buyouts, as well as the more substantial solvent voluntary buyouts. Voluntary buyouts take pension liabilities off