Just Group completes £4m buyout with KGM pension scheme

Written by Adam Cadle

28/09/2023

Just Group has completed a £4m full-scheme buyout with the KGM Pension and Life Assurance Scheme, covering 14 deferred and 10 pensioner members.

Bulk annuity and consolidator advisory business K3 Advisory, in partnership with actuary and consultant Cartwright, supported the trustees in completing the deal.

Legal advice was provided to the trustees by Reed Smith.

Just Group head of defined benefit sales, Pete Jennings, argued that all schemes, if prepared the right way, had the right to purchase a bulk annuity with an insurer.

“We know that any scheme brought to us by K3 and Cartwright has been properly prepared and is ready to go, which aids us in providing a quality quote,” he added.

“Utilising our innovative bulk quotation service provided transaction certainty and meant the process was easy and efficient, allowing us to complete in a timely manner, securing the best outcome for members.

“Our commitment to working with schemes of all sizes is demonstrated here and we are delighted to have been selected by the trustees for this mandate.”

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