The pension scheme of The Royal Star & Garter Home for Disabled Ex-Service Men and Women has completed a £16m buy-in for 186 pensioners and 65 deferred members.

The scheme for the charity that provides care for veterans and their partners living with disability or dementia picked Just Group. The transaction completed in November 2025.

“This has been a truly collaborative effort between the trustee, charity and all of our advisers, where we served a common objective of securing the best outcome for members,” said scheme trustee Alan Greenlees at Zedra Governance. “It has been a long-term strategic objective for the trustee and charity since before Zedra were first appointed and it is particularly rewarding to see this being achieved ahead of time. Just’s proposition really spoke to us about positive member experience and made the selection straightforward.”

Andy Cole OBE, chief executive of the charity, said: “Our priority when securing this transaction was to ensure that our valued retired team members had their benefits fully secured for the long term.”

Mercer was the lead pension risk transfer adviser on the transaction. Risk transfer consultant Cara Gordon said the scheme received multiple insurer quotes, “securing a deal that met both the trustee and charity’s selection criteria and fully supports the scheme members”.

Jerome Johnston, deal manager at Just, said: “This deal demonstrates Just’s ability to work with schemes of all sizes and types, including charities, and to leverage our streamlined pricing service, Beacon, to deliver an actionable price, in a competitive process.”

The trustee took legal advice from Mills & Reeve. Just Group used its in-house internal legal team.

The transaction follows a £35m buy-in with Brittany Ferries publicised in January. Last year, Just completed deals totalling £70m with schemes of ferry operator DFDS and took on £250m of pension liabilities from defence firm Ultra Electronics among others.