A number of small defined benefit (DB) pension scheme buy-in deals have been confirmed, which industry experts have highlighted as evidence of the de-risking opportunities available to schemes "of all sizes".

Included in the deals was a £600,000 buy-in for a scheme sponsored by Scott Brownrigg, which covered four deferred members and 16 pensioners.

This was alongside a £900,000 buy-in for 10 deferred members of an undisclosed scheme, as well as a £2m buy-in, which covered three deferred members and two pensioners.

All three deals were completed with Just Group as the insurer, with K3 Advisory leading on the transactions, while Vidett provided professional trusteeship and governance support.

Just Group business development manager, Kishan Radia, highlighted the transactions as evidence that "if prepared in the right way, all schemes have access to the risk transfer “gold standard” that is purchasing a bulk annuity from an insurer".

“Utilising our innovative bulk quotation service, and working with K3, we were confident these would be streamlined and efficient processes from start to finish," Radia continued. "There is a vibrant DB de-risking market for schemes of all sizes.”

This was echoed by K3 Advisory deal lead, Mark Foster, who stated: “The completion of these transactions highlights our continued dedication to supporting smaller companies to reach the best outcome for their scheme, and their members.

“Our specialised approach, and first-class connections with insurers, allows us to unlock better value in the market with cost and timescale certainty.

"Establishing insurer interest in these small schemes was further aided by the professional governance in place, giving greater confidence to insurers that the transaction would proceed. “

Adding to this, Vidett client director, Kevin Clark, commented: “As an appointed independent trustee our objective is to always ensure members benefits are secure and they are getting the best outcome possible.

"Working with K3 we felt completely confident that the schemes, and members, were in very good hands. It’s extremely satisfying to have been able to reach such a favourable outcome for all parties.”

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