The McGregor Construction pension scheme completes £7m buy-in with Just Group

Written by Adam Cadle

16/06/2025

Just Group has completed a £7m buy-in with The McGregor Construction (Highlands) Limited Pension Plan.

The buy-in was completed in April 2025 and secures the benefits of 66 pensioner and eight deferred members at PPF+ levels.

This PPF+ transaction follows the scheme entering the Pension Protection Fund (PPF) assessment process after insolvency of the sponsor, McGregor Construction Highlands Limited in August 2022.

Vidett acted as the scheme trustee and PwC was lead transaction adviser. CMS provided legal advice for the trustee, Broadstone acted as the specialist administrator and Just Group was advised by inhouse legal counsel.

Ross Breckon, business development manager at Just Group, said: “Our innovative and streamlined technology platform, Beacon, offers efficient and flexible pricing capabilities – enabling the scheme to meet its objective of ensuring members received the maximum benefit from the assets available. There was great collaboration between all the parties, resulting in a positive outcome for the scheme members who will now receive benefits above PPF levels. This transaction shows that the insurance de-risking market continues to be dynamic and effective, supporting schemes of all sizes and with a variety of requirements.”

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