BPA Plus
BPA Plus is our innovative BPA solution, designed to put the scale and strength of The Prudential Assurance Company’s (“Prudential”) With‑Profits Fund to work for pension schemes. It offers all the guarantees of a traditional BPA-with the added potential for policyholders to share in surplus arising from favourable credit experience through discretionary annual cash bonuses.
BPA Plus offers
Guaranteed security
All insured scheme benefits are fully guaranteed by Prudential in exactly the same way as a traditional BPA. Insured benefits are paid in full regardless of credit experience.
Enhanced member outcomes through bonus potential
Policyholders may share in surplus arising from favourable credit experience through the payment of annual discretionary bonuses.
Financial strength
Backed by our £134bn With-Profits Fund, with its £7.1bn surplus and strong regulatory solvence ratio of 342%*. Prudential’s strong balance sheet has insurer financial strength rating of A+ (S&P), A1 (Moody’s) and AA- (Fitch); some of the strongest in the bulk annuity market***.
* Source: Prudential Full Year results, as at 31 December 2025.
** Any discretionary bonus is determined at the complete discretion of Prudential, based on the performance of a defined pool of assets backing the BPA Plus policies and similar business.
*** Source: Prudential, as at 12 March 2026.
Flexibility
During buy-in, trustees retain full discretion over how any bonuses are used. Following buyout, any bonuses are paid directly to scheme members.
Competitive pricing
The scale and diversified risk profile within the With-Profits Fund enable access to a broad range of attractive long-term assets and allows us to manage credit risk more effectively – advantages that are unique due to our structure.
A collaborative approach
We take a solutions‑driven and flexible approach to transactions of all sizes, including complex cases. Our team works closely with trustees, sponsors and advisers to tailor our support to each scheme’s needs.
To explore how BPA Plus could deliver enhanced value and security for your scheme, we’d be delighted to talk.
Your BPA Solutions Team
Rosie Fantom
Head of Origination & Execution
Daniel Tesmer
Head of Origination & Execution
Linda Gilhooly
Head of Origination & Execution
