K3 Advisory, in partnership with Cartwright, has announced the completion of five small scheme buy-ins, with all five transactions insured by Just Group.

The buy-ins took place between June and August 2024 with unnamed small defined benefit pension schemes.

The first was a £2m deal that secured the benefits of 25 pensioners and eight deferred members, followed by a £17m transaction insuring 18 pensioners and 15 deferred members.

An £8m deal was also completed, securing benefits for 30 pensioners and 20 deferred members, alongside a £13m buy-in for 86 pensioners and 29 deferred members, and a £5m transaction that secured benefits for 59 pensioners and 20 deferred members.

K3 Advisory senior actuarial consultant, Thomas Crawshaw, said that the transactions highlighted the “unique advantage” of working with a team that specialises in the small scheme market.

Cartwright director of investment consulting, Sam Roberts, added: “The speed of our response has been crucial in delivering the best outcomes for our clients.

“While all five transactions were handled efficiently, it was especially important for the three schemes in surplus.

“By acting quickly, we ensured they could capitalise on their favourable positions in this dynamic market. Our collaboration with K3 has proven invaluable in securing strong results for all of these pension schemes.

“Together, we’re not just completing transactions; we’re enhancing the long-term security of our clients’ pension funds, giving their members confidence that their benefits are in good hands.”

Also commenting on the buy-ins, Just Group business development manager, Kishan Radia, said: “Working with K3 Advisory and Cartwright on these transactions demonstrates Just Group’s commitment to delivering tailored solutions for smaller pension schemes.

“All five schemes benefited from our innovative price monitoring and bulk quotation service, Beacon, enabling them to transact quickly when the time was right.

“This was further supported by the productive and close working relationship between K3 Advisory, Cartwright and Just. There is a vibrant insurance de-risking market for schemes of all sizes."

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