The Pension and Life Assurance Plan of the Godolphin Company Limited, sponsored by St Aubyn Estates Ltd, has completed a £1.2m bulk purchase annuity buy-in with Just Group.
The transaction, which completed in mid-February 2026, secures the benefits of eight deferred members and marks the first transaction completed under Isio’s PenUltimate Micro framework – a fully bundled, end-to-end service designed to help schemes with fewer than 100 members get to buy-in, to buy-out and fully wound up within two years.
“Our small scheme had been facing increasing regulatory pressures and rising costs, with limited options to move forward. Isio brought clarity, professionalism and a clear plan of action. Within seven months, we had successfully changed pension scheme administrators and completed a buy-in, significantly improving both service and security for our members. Their expertise and focused approach have transformed the outlook for the Plan,” said Felix St-Aubyn, Sponsor CEO and Trustee.
“The smallest of schemes can still struggle to get engagement in the market, resulting in disproportionate fees and a lengthy data cleanse process despite low member numbers. Beacon enables us to price multiple small schemes within a short window for maximum efficiency ahead of signing, and we’ve developed a micro scheme-specific process to ensure small schemes like this get to buy-out very efficiently. We’re proud to continue leading the way, including at the smaller end of the market and we look forward to working with Isio on future PenUltimate Micro deals,” added Alma Goyanes-Payne, Business Development Manager at Just Group.
“Completing our first PenUltimate Micro transaction demonstrates how smaller schemes can access a structured and efficient route to risk settlement. Securing long-term security for members was at the heart of this process and, through focused preparation and early market engagement, we were able to help the Trustees move from a legacy policy arrangement to a completed buy-in within a relatively short timeframe. By working closely with all parties, we supported the Plan in locking in improved security and reducing risk at the right time, providing members with insurer-backed benefits and establishing a clear framework for the next stages towards full buy-out and wind-up,” added Christian Costi, Risk Transfer specialist at Isio.
