Superior Pension Fund agrees £10m bulk annuity deal with Just

Written by Sophie Smith

06/12/2023

The Superior Pension Fund has completed a £10m bulk annuity deal with Just Group, insuring the pension liabilities for 78 members.

The deal will protect the scheme against the investment, inflation, and longevity risks associated with these members’ benefits.

This is in turn expected to help achieve one of the key objectives of the trustees, the scheme's sponsoring employer, Greenery U.K. Limited, and its parent company, Greenery BV, an international food and vegetable supplier.

The trustees were advised throughout the process by Buck, while Harrison Clark Rickerbys (HCR) acted as the trustees’ legal advisers, Capita acted as the scheme actuary and administrator, and Canaccord acted as the trustees’ investment adviser.

Just Group business development manager, Kishan Radia, said: “There is a vibrant DB de-risking market for schemes of all sizes and our innovative bulk quotation service provides access to live insurer pricing for all shapes and sizes of schemes.

“Working together with Buck, over a period of approximately six months, we were able to monitor closely the Superior Pension Fund’s funding position and move quickly when the trustees chose to transact. We’re very pleased to have secured the benefits for members of this scheme.”

Related Articles