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The Clark & Butcher Ltd Pension Scheme has concluded a £2m full scheme buy-in covering 15 pensioners and 8 deferred members.
The deal with Just Group was led by small scheme specialists K3 Advisory, now part of Isio Group. The trustee received investment advice from Barker Tatham, actuarial advice from GP Actuarial and legal advice from Pension Partners LLP. MUFG are the scheme’s administrators. K3 led the buy-in broking process and will continue supporting the trustees as they move to buyout.
"We are pleased to announce the successful completion of this transaction, demonstrating the role of collaboration in achieving a secure and positive outcome,” said Ben Clark, who chairs the scheme for the property company.
Thomas Crawshaw, senior actuarial consultant at K3, said: “This buy-in highlights the value of our expertise, and our close partnership with all stakeholders ensured a smooth process and financial security for the scheme.”
Alma Goyanes-Payne, deal manager at Just, said the transaction used the insurer’s price monitoring and bulk quotation service Beacon.
“This enabled the scheme to transact quickly when the time was right – and was further supported by K3’s well-structured approach,” she said.
Risk transfers of less than £10m increased by 60% last year, according to new analysis by LCP published this week. Just leads the market in small and micro scheme deals, underwriting 120 small schemes in 2024. The second highest number of small scheme transfers was made by Aviva, at 52 deals. LCP found that Just had extended its share of total deal volume to 11% last year, up from 7% in 2023.
