The transaction, completed in June 2025, insures the benefits of all 249 members, 124 deferred and 125 pensioners. Mercer was Employee Benefits Consultant and lead broker on the transaction, Just Group used in- house legal support with legal advice provided to the Trustees by Squire Patton Boggs.
Alma Goyanes-Payne, Deal Manager at Just Group, said: “We are very pleased to have secured the benefits of all 249 members of the Scheme. Using our market leading price monitoring and bulk quotation service, Beacon, we closely tracked when the conditions were favourable for the scheme to transact. In collaboration with the Trustee and scheme advisers we were able to complete the transaction quickly and efficiently using our streamlined processes. The pension de-risking market continues to be dynamic and effective, and Just is actively supporting schemes of all sizes and with a variety of requirements.”
James Ellis, Chair of Trustees and Holly Arnold, CFO commented: “The Trustees and Sponsor are extremely pleased to have completed this transaction covering all the benefits due to Scheme members, providing them with the additional security of a full scheme buy-in. This has been an exceptionally well run process and serves as a great example of how a collaborative process and expert advice can lead to a successful outcome for smaller schemes in a competitive buy-in market.”
Asha Suresh, Risk Transfer Consultant at Mercer, added: “It has been a privilege to work with the Trustees and Sponsor to achieve this significant milestone in the journey of the pension scheme. As the lead advisor, we ran a competitive process with insurers and helped to successfully achieve a strong outcome for all stakeholders, most importantly the members, in just nine months of our appointment.”
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