The Clark & Butcher Limited Pension Scheme has completed a £2m full scheme bulk purchase annuity buy-in transaction with Just Group.
“We are pleased to announce the successful completion of this transaction, demonstrating the role of collaboration in achieving a secure and positive outcome. Through each party’s commitment and expertise, the process was executed seamlessly, ensuring long-term security and stability for our members,” said Ben Clark, Chair of the Trustees.
The transaction secures the benefits of 15 pensioners and eight deferred members and was led by K3 Advisory, part of Isio Group. K3 led the buy-in broking process and will continue supporting the trustees as they move towards the buy-out phase.
“We are delighted to have played a key role in supporting the Trustees throughout this transaction. This buy-in highlights the value of our expertise and our close partnership with all stakeholders ensured a smooth process and financial security for the Scheme,” said Thomas Crawshaw, Senior Actuarial Consultant at K3 Advisory.
“We are proud to have secured the benefits for the Scheme members. The transaction benefited from our innovative price monitoring and bulk quotation service, Beacon. This enabled the scheme to transact quickly when the time was right – and was further supported by K3’s well-structured approach. There is a vibrant insurance de-risking market for schemes of all sizes and Just is delivering an outstanding service to small schemes, large schemes and everything in between,” added Alma Goyanes-Payne, Deal Manager at Just Group.