Just Group completes £8m buy-in with Veitchi Group pension scheme

Written by Adam Cadle

02/02/2023

Just Group has completed an £8m full buy-in with The Veitchi (Holdings) Limited Retirement Benefits Scheme, securing the benefits of its remaining 82 uninsured members.

The deal, which was finalised in mid-December, completes the buy-in of all scheme liabilities, covering all remaining uninsured members, including 31 pensioners and 51 deferred members.

Broadstone was appointed to provide annuity broking on the transaction, while legal advice was provided by MacRoberts LLP and investment consulting support was provided by Isio.

The scheme is now expected to proceed with a full buyout and wind-up.

Just Group business development Harriet Fallows added: “It is pleasing to see our bulk quotation service in action and delivering what clients need. This service provided reassurance that the transaction was affordable and enabled the trustees, working with Broadstone, to rapidly transact with us.

“We are committed to working with schemes of all sizes and we are delighted to have been selected by the trustees of the Veitchi (Holdings) Limited Retirement Benefits Scheme for this mandate.”

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