Just Group has completed a £67m de-risking transaction securing the benefits of two pension schemes, both with the same sponsor.
The transactions, completed in March 2025, insure the benefits of all members in the schemes, comprising 675 pensioners and dependants, as well as 256 deferred members.
“This multi-scheme transaction demonstrates the compelling strength of Just’s de-risking proposition. We were able to minimise uncertainty through a gilts-based price lock, evidencing clearly how Just is best-placed not only to secure the benefits of the schemes’ members now but also to look after them for many years to come,” said Ross Breckon, Business Development Manager at Just Group.
“Securing the benefits for our members has always been our top priority, and this transaction delivers exactly that. It’s a great example of how effective collaboration and expert advice can achieve outstanding outcomes for members even when there are complexities and short timescales at play. We’re grateful to our advisers, PwC, Squires Patton Boggs and Spence & Partners, for their hard work on this project and to Just for being flexible in meeting our requests,” said Mike Roberts at PAN Trustees.
PWC was the lead broker on the transaction: Just Group used in-house legal support with legal advice provided to the trustees by Squire Patton Boggs.
“We are delighted to have successfully led the completion of the buy-ins for these two pension schemes. Acting as lead advisor to PAN Trustees, we helped secure a strong outcome for all stakeholders, and most importantly the members, within just eight months of being appointed by the trustees,” said Sam Whalley, Risk Transfer Deal Lead at PWC.
