The Clark & Butcher Limited Pension Scheme has agreed a £2m full scheme buy-in with Just Group, securing the benefits of 15 pensioners and 8 deferred members.

K3 Advisory, part of Isio Group, led the buy-in broking process, while investment advice was provided by Barker Tatham, actuarial advice by GP Actuarial, legal advice by Pension Partners, and MUFG acted as the scheme’s administrators.

K3 will also continue to support the trustees as the scheme moves towards the buyout phase.

Trustee chair, Ben Clark, highighted the deal as a demonstration of the role collaboration in achieving a secure and positive outcome.

"Through each party’s commitment and expertise, the process was executed seamlessly, ensuring long-term security and stability for our members," he stated.

Adding to this, K3 Advisory senior actuarial consultant, Thomas Crawshaw, said: “We are delighted to have played a key role in supporting the trustees throughout this transaction.

"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”.

Just Group deal manager, Alma Goyanes-Payne, added: “We are proud to have secured the benefits for the scheme members.

"The transaction benefited from our innovative 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.

"There is a vibrant insurance de-risking market for schemes of all sizes and Just is delivering an outstanding service to small schemes, large schemes and everything in between.”

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