The trustees of the Englass Pension Scheme have concluded a £12m buy-in with Just Group, securing the benefits of 100 members.
The deal made use of special small scheme transaction tools offered by Aon, the scheme’s adviser, and Just Group.
Jan van Dijk, chair of the Englass Pension Scheme’s trustee board, said the deal was “an important step” for the scheme and its members.
“Following a careful selection process, the implementation with Aon and Just was achieved with speed and efficiency,” he said.
“Using pre-negotiated contractual terms and Aon’s very wide experience, the transaction was signed within 12 working days of the October trustee meeting at which the go-ahead was given for Just’s proposed quotation.”
Claire Armstead, senior consultant in Aon’s risk settlement team, said the deal was one of 16 smaller scheme transactions the consultancy giant led on during 2024.
She added that it was “a good example of how the market has adjusted to the needs of schemes of this size – both in terms of pricing and of process”.
