The Royal Star & Garter Home for Disabled Ex-Service Men and Women pension scheme has completed a £16m bulk purchase annuity buy-in with Just Group, securing the benefits of 251 members.
The Scheme is sponsored by Royal Star & Garter, a UK charity that provides care for veterans and their partners living with disability or dementia; the transaction was completed in November 2025.
“This has been a truly collaborative effort between the Trustee, Charity and all of our advisors, where we served a common objective of securing the best outcome for members. It has been a long-term strategic objective for the trustee and charity since before Zedra were first appointed and it is particularly rewarding to see this being achieved ahead of time. Just’s proposition really spoke to us about positive member experience and made the selection straightforward,” said Alan Greenlees of ZEDRA, Professional Trustee to the Scheme.
“This deal demonstrates Just’s ability to work with schemes of all sizes and types, including charities, and to leverage our streamlined pricing service, Beacon, to deliver an actionable price, in a competitive process. We believe that we have achieved a great outcome for members,” added Jerome Johnston, Deal Manager at Just Group.
Mercer was the lead pension risk transfer adviser on the transaction. Legal advice was provided to the trustee by Mills & Reeve LLP and to Just Group by its in-house internal legal team.
“We are delighted to have worked with the Trustee and Just on this transaction. Using Mercer’s tried and tested, streamlined approach we received multiple insurer quotes, securing a deal that met both the Trustee and Charity’s selection criteria and fully supports the Scheme members. This transaction demonstrates Mercer’s ability to run an efficient competitive process in an evolving small scheme market to deliver an outcome that delivers value and puts members at the forefront,” said Cara Gordon, Risk Transfer Consultant at Mercer.
