Marvin OnumonuJust Group has completed a £23m buy-in with the Welcome Break Pension Plan.
The scheme, sponsored by the Welcome Break Group, covers the benefits of 348 members, including 137 deferred members and 211 pensioners.
Mercer acted as employee benefits consultant and lead broker.
Just Group used its own legal team, with trustees taking legal advice from Squire Patton Boggs.
PwC advised the sponsor, and CMS acted as legal adviser.
Alma Goyanes-Payne, deal manager at Just Group, said: “We are proud to have secured the benefits for all 348 of the Welcome Break Pension Plan members.
“The transaction benefited from our innovative price monitoring and bulk quotation service, Beacon, which enabled the Scheme to transact quickly when the time was right.
“Activity across the insurance de-risking market remains strong for schemes of all sizes, and Just is delivering exceptional service across the board.”
Chris Maggs, independent trustee, said: “Just continue to provide a valuable service, enabling trustees of schemes of all sizes to secure benefits and enhance member protection.
“Once again they have proved flexible and responsive to our needs.”
Tim Lightfoot, finance director at Welcome Break, said: “We are delighted to have worked with Just Group on this transaction. It is incredibly positive to be able to secure member benefits with them.
“This collaboration is not only beneficial for our members but also aligns perfectly with Welcome Break’s business strategy moving forward.”
Joanne Arnold, principal at Mercer, said: “We are very pleased to have supported the Trustees on this transaction which involved managing a number of benefit complexities.
“This project involved all parties working closely together throughout to deliver a great outcome for members with attractive pricing and terms from Just.”
