Welcome Break secures £23m buy-in with Just Group

Written by Niamh Smith

12/09/2025

Welcome Break Pension Plan, sponsored by motorway service operator Welcome Break Group, has completed a £23m pension buy-in with Just Group.

The transaction was finalised in June 2025 and secured the benefits of all 348 members of the scheme’s defined benefit section.

This includes 137 deferred members and 211 pensioners, ensuring long-term security for current and former employees.

Mercer acted as employee benefits consultant and lead broker on the transaction. Legal advice was provided to the trustees by Squire Patton Boggs, while Just Group relied on its in-house legal team.

On the sponsor side, PwC served as corporate pensions consultant, with CMS advising on legal matters.

The Welcome Break Pension Plan supports staff from the nationwide operator, which runs more than 60 service areas and hotels across the UK and welcomes around 85m visitors each year.

Just Group deal manager, Alma Goyanes-Payne, said: “The transaction benefited from our innovative price monitoring and bulk quotation service, Beacon, which enabled the scheme to transact quickly when the time was right.

"Activity across the insurance de-risking market remains strong for schemes of all sizes, and Just is delivering exceptional service across the board.”

Mercer principal, Joanne Arnold, said: “We are very pleased to have supported the trustees on this transaction which involved managing a number of benefit complexities.

"This project involved all parties working closely together throughout to deliver a great outcome for members with attractive pricing and terms from Just.”

The transaction follows a recent £3.8m full scheme buy-in completed by Just Group with an unnamed aviation industry pension scheme, covering all members not already insured under annuity policies with other providers.

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