Just Group completes £23m buy-in for 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.
Just 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.”
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