The CH Johnson Pension Plan, sponsored by Heimbach UK Ltd, a subsidiary of Heimbach GmbH, has completed a £11m bulk purchase annuity buy-in with Just Group. The deal secures the benefits for 147 scheme members.
“Against the backdrop of recent corporate change, securing this buy-in provides vital reassurance to our members that their benefits are backed by an insurer for the long term. We would like to thank Isio and Gateley, as our trusted advisers, for leading the broking process and for their longstanding advice to the Trustees over many years which ultimately enabled this transaction to take place. The support of Isio’s covenant team and their detailed assessment of the financial strength of our selected insurer counterparty helped us respond at pace to the Company restructure,” said Phil Burgess, Chair of Trustees of the CH Johnson Pension Plan.
“Just is committed to supporting schemes of all sizes achieve their de-risking objectives. This Scheme is a great example where our streamlined Beacon pricing service has added real value by enabling a quick transaction process that provides peace of mind to Trustees and members. We are proud to have been selected by the Trustees as their trusted insurance partner,” added Alma Goyanes–Payne, Business Development Manager at Just Group.
Isio provided actuarial, administration, investment, covenant and insurance advice to the trustee.
“This was a highly collaborative transaction, with all parties aligned on the importance of providing certainty and security for members following the Company restructure announcements. The proactive engagement from the Trustees, Heimbach UK and Albany enabled us to move quickly, address challenges efficiently and deliver security for members through a swift buy‑in process,” said Tom Ridley, Senior Manager at Isio.
