Quantum Advisory completes buy-out for SPM Plastics Pension Scheme

Quantum Advisory has completed a £4m buy-out for the SPM Plastics Pension Scheme, securing benefits for all 38 members. 

Quantum Advisory provided actuarial, investment and administration services, with Just Group acting as insurer.

David Jervis, consultant and actuary at Quantum Advisory, said: “The transaction followed a period of proactive risk management by the scheme and its sponsor, including an enhanced transfer value (ETV) exercise and timely adjustments to the investment strategy to align with insurer pricing. 

“Data quality and thorough preparation were pivotal, from the detailed administration checks undertaken, to ongoing reviews and mortality tracing. 

“This gave insurers confidence and helped avoid surprises during the data cleanse.”

Jervis added: “Combined with early engagement on investment strategy and strong collaboration between all parties, we were able to deliver a smooth and cost-efficient transition from buy-in to buyout for the scheme and its members.”

Chris Hall, head of post transaction services at Just Group, said: “This transaction is a great example of how early preparation and strong collaboration between all parties can deliver real efficiencies. 

“The high standard of data and clarity of communication from Quantum and the Trustees meant we were able to proceed with confidence and meet the Scheme’s objectives effectively.