On the go: Brent Group, a family-owned business that includes the digital marketing and brand agency Brand Remedy, has completed a £3m buy-in with Just Group.
K3 Advisory assisted the trustee through the deal, while Western Pension Solutions provided strategic advice to the company.
The deal with Just Group covers 15 scheme members, including two deferred members and 13 pensioners, and was completed on March 25 2021.
The buy-in marks a first step in the fund’s journey towards full buyout.
Richard Silbermann, director at Brent Group, stated: “When we started out on our buyout journey in early 2020, we could not have foreseen the changes that would come our way.
“But thanks to careful preparation and due diligence from our professional advisers, we have managed to secure members’ benefits at a significantly lower cost than had been originally estimated.”
No asset allocation or manager details for the scheme are disclosed. However, legal advice to the trustee was provided by Mills & Reeve and the scheme’s actuary and administrators are First Actuarial.
This article originally appeared on MandateWire.com
