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CP Pharmaceuticals pension scheme agrees £28m buy-in with Just Group

Written by Jack Gray
04/01/2024

The CP Pharmaceuticals Limited Pension Scheme has secured a £28m full buy-in with Just Group, securing the benefits of all 317 previously uninsured scheme members.

The deal, which was completed in October, did not require any additional contribution from the sponsor.

It covered 46 pensioners and 271 deferred members, completing the buy-in of all scheme liabilities, with the scheme now expected to proceed to full buyout and wind-up.

Broadstone provided annuity broking as well as investment consultancy services, while legal advice was provided by Eversheds, with additional trustee advice provided by Capita.

Just Group senior business development manager, Martin Parker, stated: “It has been a privilege to work with Broadstone and the other trustee advisers using the bulk quotation service for this well-prepared scheme.

“We look forward to continuing to work collaboratively towards the scheme winding-up and providing security and a supportive experience for the members long into the future.”


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