Deutz Retirement Benefits Plan completes £16m buy-in with Just

Written by Callum Conway

17/02/2025

The Deutz Retirement Benefits Plan has completed a £16m buy-in with Just, securing the benefits of 181 scheme members, including 70 deferred members and 111 pensioners.

The buy-in, which was completed in six weeks using Just's streamlined service Beacon, met the scheme's need to reduce risk and take advantage of attractive market conditions.

Mercer acted as the scheme's lead risk transfer adviser, while Shoosmiths provided legal advice to the trustee, and Just received in-house legal support.

The Deutz Retirement Benefits Plan chairman, Oliver Neu, commented on the deal: "We have always prioritised keeping the promises made to our members, and this buy-in enables us to protect those commitments with confidence.

"We are grateful to Mercer for their skilled leadership in navigating the market, obtaining a competitive process, and helping us achieve our objectives. The timescales in which we requested the buy-in to be completed required tremendous effort from all advisers involved.

"Our special thanks go to the teams at Mercer, Shoosmiths, and Aptia for supporting the trustee throughout the process."

The transaction was one of 129 deals completed by Just in 2024, marking what is thought to be a record number for the industry.

Commenting on the deal, Just business development manager, Ross Breckon, said: "Just's investment in technology to deliver faster, more accurate pricing through our innovative Beacon service and creation of a streamlined execution process empowers schemes to leverage favourable market conditions.

"Just's technology-enabled solution is being successfully deployed for schemes of all sizes."

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