Just Group secures £40m buy-in with But Retirement Benefits Scheme

Written by Adam Cadle

17/05/2023

Just Group has secured a £40m buy-in with the But Retirement Benefits Scheme.

The scheme is now expected to proceed to full buyout and wind-up. The transaction covers all uninsured members of the scheme, securing the retirement benefits for 111 pensioners and 149 deferred members.

Buck acted the lead transaction adviser, while the trustees received legal advice from Field Fisher.

Just Group senior business development manager, Martin Parker, stated: “Our innovative bulk quotation service alerted the trustees immediately when the transaction entered a pricing corridor that was attractive to them.

"There is a vibrant consolidation market for schemes of all sizes and we are proud to have worked with the trustees and their advisers to secure the benefits of their members.”

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