Marvin OnumonuBroadstone advised the Safe Computing Pension Fund on a £4.5m full buy-in with Just Group.
The deal secures benefits for all members of the Scheme, including 16 deferred and 24 pensioner members, and completes buy-in of all liabilities.
The Scheme is sponsored by The Access Group.
The transaction used Scheme assets and did not require an extra contribution from the Company after a legacy illiquid asset was realised.
The process was completed in under four weeks using Broadstone’s SM&RT Insure process alongside Just’s Beacon service. Gateley Legal provided legal advice.
Bob Jenkinson, deal lead at Broadstone, said: “Small scheme transactions like this require specialist knowledge of the insurance market and the extensive experience Broadstone have in the area proved invaluable.
“It was imperative the Scheme undertook a robust preparation phase to ensure data was in a suitable state of readiness for the transaction.
“All of that hard work paid off, and the transaction was completed seamlessly in under 4 weeks during a period of market volatility.”
Palwinder Hare at HS Trustees, said: “Our Advisers guided the Trustees expertly through the entire project, delivering clear, focussed advice on the process and the key risks and issues associated with this type of transaction.
“The seamless execution proved the worth of the rigorous preparation and the strength of the approach.
“The efficiency of the transaction really put the valuable preparation into perspective and has proved its value.”
Alma Goyanes-Payne, business development manager at Just, said: “Supporting schemes of all sizes is core to our approach at Just.
“By using our streamlined pricing service, small schemes can monitor pricing and move quickly to execution at the right time.
“We are pleased to have supported the Scheme in achieving its derisking objectives.”
