Just Group completes £120m buy-in for South East Water Pension Scheme

Just Group has completed a £120m buy-in for the South East Water Pension Scheme to secure benefits for around 700 pensioner and dependent members and nearly 300 deferred members. 

This was the second transaction aimed at guaranteeing all member benefits, including complex non-standard benefits. 

Geraint Jones, business development manager (BDM) at Just Group, said: “We are delighted to have collaborated for a fourth time with the trustee and for a second time on this scheme.

“This second transaction secured all the remaining members’ benefits, including those whose non-standard benefits had previously been difficult to insure.

“The de-risking process is now complete and the member benefits secured.”

Jones added: “Member experience and a proactive approach to ESG were also important to the trustee so we are proud that our track record and approach could meet their needs.

“We look forward to providing a brilliant member experience for the scheme’s members in the years to come.”

Jo Stimpson, chair of the trustee at South East Water, said: “We are delighted to have completed the Scheme’s final buy in, marking the successful conclusion of a significant de-risking journey to enhance the long-term security of our members’ pensions.