Englass Pension Scheme agrees £12m buy-in with Just Group

Written by Paige Perrin

01/04/2025

The Englass Pension Scheme has agreed a £12m full scheme buy-in with Just Group, insuring the benefits of all 100 scheme members.

Aon acted as an adviser for the transaction, using its Pathway approach for bulk annuity transactions under £150m.

Englass Pension Scheme chair of trustees, Jan van Dijk, said the transaction was an “important” step for the scheme and its members.

“Following a careful selection process, the implementation with Aon and Just Group was achieved with speed and efficiency,” he stated.

“Using pre-negotiated contractual terms and Aon’s very wide experience, the transaction was signed within 12 working days of the October trustee meeting at which the go ahead was given for Just Group’s proposed quotation.”

Adding to this, Aon UK senior consultant in the risk settlement team, Claire Armstead, said: “We were very pleased with the smooth progress of this transaction via our Pathway process.

“It was one of 16 smaller scheme transactions that Aon made over the year and is a good example of how the market has adjusted to the needs of schemes of this size – both in terms of pricing and of process. We are already seeing more of this in 2025.”

Just Group deal manager, Alma Goyanes-Payne, added: “Our price monitoring and bulk quotation service, Beacon, combined with our streamlined execution process, empowered the trustees to move swiftly to transaction as soon as pricing conditions became favourable.

“We were able to work efficiently with Aon to ensure that the process to transaction was straightforward and members’ benefits were secured.

“There is a vibrant insurance de-risking market and Just Group’s technology-enabled solution is being successfully deployed for schemes of all sizes.”

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