The ROM Group Pension and Life Assurance Scheme has completed a £23m full scheme buy-in with Just Group, securing the benefits of all 249 members, including 124 deferred and 125 pensioners. 

Mercer acted as the employee benefits consultant and lead broker on the deal, whilst Just Group used in-house legal support, and the trustees received legal advice from Squire Patton Boggs. 

ROM Group Pension and Life Assurance Scheme chair of trustees and ROM Ltd CFO, Holly Arnold, highlighted the deal as a "great example" of how a collaborative process and expert advice can lead to a successful outcome for smaller schemes in a competitive buy-in market. 

"The trustees and sponsor are extremely pleased to have completed this transaction covering all the benefits due to scheme members, providing them with the additional security of a full scheme buy-in," the pair added. 

Just Group deal manager, Alma Goyanes-Payne, also highlighted the role of collaboration, stating: "We are very pleased to have secured the benefits of all 249 members of the scheme.

"Using our market-leading price monitoring and bulk quotation service, Beacon, we closely tracked when the conditions were favourable for the scheme to transact.

"In collaboration with the trustee and scheme advisers we were able to complete the transaction quickly and efficiently using our streamlined processes."

Adding to this, Mercer risk transfer consultant, Asha Suresh, said: “It has been a privilege to work with the trustees and sponsor to achieve this significant milestone in the journey of the pension scheme.

"As the lead advisor, we ran a competitive process with insurers and helped to successfully achieve a strong outcome for all stakeholders, most importantly the members, in just nine months of our appointment.”

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