Just Group secures £16m buy-in for Deutz scheme

Just Group has completed a £16m buy-in for The Deutz Retirement Benefits Plan sponsored by Deutz AG.

The transaction was completed in six weeks, insuring the benefits of 181 Scheme members, comprising 70 deferred members and 111 pensioners.

Mercer acted as the lead risk transfer adviser for the Scheme, while Shoosmiths provided legal advice to the Trustee.

Ross Breckon, business development manager at Just Group, said: “Just’s investment in technology to deliver faster, more accurate pricing though our innovative Beacon service and creation of a streamlined execution process, empowers schemes to leverage favourable market conditions. 

“Just’s technology-enabled solution is being successfully deployed for schemes of all sizes.”

Suchi Dench, risk transfer consultant at Mercer, said: “Just facilitated a transaction to meet accelerated timescales so that the Trustees could take advantage of favourable market conditions, securing members’ benefits in full. 

“Even at the smaller end of the market, we successfully enabled a competitive process. 

“This is great news for smaller pension schemes as it provides choice for trustees in a busy market.”

Oliver Neu, chairman of The Deutz Retirement Benefits Plan, said: “We have always prioritised keeping the promises made to our members, and this buy-in enables us to protect those commitments with confidence. 

“We are grateful to Mercer for their skilled leadership in navigating the market, obtaining a competitive process, and helping us achieve our objectives.” 

Neu added: “The timescales in which we requested the buy-in to be completed required tremendous effort from all advisers involved. 

“Our special thanks go to the teams at Mercer, Shoosmiths, and Aptia for their support to the Trustee throughout the process.”