The G R Wright & Sons Ltd Pension & Assurance Scheme has completed a £4m full scheme buy-in with Just Group, securing the benefits of all 13 members.

The scheme was sponsored by G R Wright & Sons Ltd, a multi-generational family milling business, which provided an additional contribution to support the deal and improve security for the scheme members.

Broadstone advised on the buy-in, after a strong funding position led the scheme’s trustees to begin preparing for a transaction using Broadstone’s SM&RT approach alongside ongoing administration, actuarial and investment services.

G R Wright & Sons managing director, David Wright, commented on the deal’s completion: “Broadstone provided us with reassurance that the transaction would be completed swiftly, and member benefits would be in capable hands going forward.

"Once this was clear, we worked with the trustees to provide the additional financial support the scheme needed to complete the deal.”

Just Group senior business development analyst, Rosie Mills, added: “We’re very pleased to have worked with Broadstone and the trustees to secure the benefits for all the members of
The G R Wright & Sons Ltd Pension & Assurance Scheme.

"This scheme is for a business run by a family who are proud of their rich 156-year legacy, spanning six generations. It’s always rewarding to work with schemes that are part of the bedrock of Britain.

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

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