The John Cotton (Mirfield) Limited Retirement Benefits Scheme has completed an £11m bulk purchase annuity buy-in with Just Group.
The scheme supports current and former employees of the John Cotton Group Limited, a family-owned company established in 1916 based in the UK that specialises in manufacturing home textiles and nonwoven fibre products.
The buy-in, completed in June 2025, insures the benefits of all 105 uninsured members, comprising 48 deferred and 57 pensioners.
“Securing this buy-in with Just Group marks a pivotal step in the Scheme’s de-risking strategy. As our trusted adviser, Isio’s expertise was instrumental in coordinating all parties and guiding us, with the support of legal advice from Squire Patton Boggs, through the complexities of this transaction. We extend our gratitude to Just Group, Isio and Squire Patton Boggs for their collaborative approach, which delivered both immediate security and long-term stability for our members,” said Stephen Swalwell, Chair of Trustees.
“This transaction is a great example of how smaller schemes are benefiting from a dynamic and flexible insurance market. Beacon, our market-leading solution, provides schemes of all sizes with ready access to a price monitoring and bulk quotation service. Beacon equips parties to the deal with the insight to move quickly to complete the transaction when the price aligns with the Scheme’s target price. Just is committed to helping schemes of all sizes achieve their de-risking objectives and delivering an excellent member experience,” added Alma Goyanes-Payne, Deal Manager at Just Group.
Isio acted as the lead risk transfer advisers for the scheme, Squire Patton Boggs provided legal advice to the trustees of the scheme and Just Group was advised by in-house legal counsel.
”We’re delighted to have supported the Trustees and the Sponsor in securing members’ benefits through the purchase of this buy-in policy. The Scheme’s unique features required tailored planning, and we’re pleased to have delivered an outcome that balances security, value and member peace of mind,” said Tom Ridley, Senior Manager, Insurance at Isio.
