11 December 2024
K3 Advisory, the pension market’s only specialist independent bulk annuity and consolidator advisory business, and market-leading end-game advisory business to the fiduciary management market, today announced the successful completion of a £17 million buy-in transaction for a well-known, family-owned, food manufacturer.
The transaction secured the future benefits of 32 pensioners and 22 deferred members. The deal was completed with Just Group. Broadstone served as the scheme actuary and administrator, Cartwright as the investment advisor, and CMS as legal advisors.
John Mayer, Senior Actuarial Consultant, at K3 Advisory, commented: “Preparing a smaller scheme for buy-in requires significant expertise, each step is crucial in getting in position to seize the right opportunity. So too is strong collaboration. Thanks to our strong relationships and deep market insight, we were able to do exactly that and provide a well-structured, tailored solution that delivers member security and strengthens the scheme’s position for the future.”
Suresh Bhatt, Chair of Trustees at gcTrustees, added: “The successful completion of this buy-in marked a significant milestone in the scheme’s derisking journey. Working with K3 Advisory and their team of experts, we were able to navigate the process smoothly and efficiently, ensuring that the security of the members remained a top priority while safeguarding the long-term stability of the scheme.”
Ross Breckon, Business Development Manager at Just, said: “Our strong working relationship with K3, along with our innovative pricing model, allowed us to structure a solution and act quickly as soon as pricing conditions were favourable. This flexibility was crucial given the complex benefits structure of the scheme and highlights our ability to deliver bespoke solutions for schemes of any size in a vibrant de-risking market.”
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