The Welcome Break Pension Plan, sponsored by Welcome Break Group, a UK-based motorway service operator, has completed a £23m bulk purchase annuity buy-in with Just Group.
The buy-in, completed in June 2025, insures the benefits of all 348 defined benefit section members comprising 137 deferred and 211 pensioners.
“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,” said Alma Goyanes-Payne, Deal Manager at Just Group.
“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,” said Chris Maggs, Independent Trustee.
Mercer was Employee Benefits Consultant and lead broker on the transaction. Just Group used in-house legal support with legal advice provided to the trustees by Squire Patton Boggs. The sponsor was advised on the transaction by PwC as corporate pensions consultant and CMS as legal advisor.
“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,” said Joanne Arnold, Principal at Mercer.
