Just Group completes £100m buy-in with Timpson Group Pension Scheme

Written by Adam Cadle

24/05/2023

The Timpson Group Pension Scheme has completed a £100m full scheme buy-in with Just Group, securing the retirement benefits for 369 pensioners and 694 deferred members.

The deal was led by K3 Advisory, while Western Pension Solutions (WPS) provided strategic advice to Timpsons to help ensure the scheme was well placed to transact.

Legal advice was provided to the trustee by Gateley, while XPS acted as the administrator and investment adviser to the scheme and First Actuarial was the scheme actuary. Just retained internal legal counsel.

Just defined benefit solutions managing director, Pretty Sagoo, said: “We’ve enjoyed working with the Timpson Group, K3 and WPS on this transaction.

"There is a vibrant consolidation market for schemes of all sizes and we are proud to have been entrusted with the long-term financial security of their members.”

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