Just Group has completed a £1.5 million full pension scheme buy-in transaction for the Trustees of Intersil Limited Superannuation Fund.
Intersil Limited is a subsidiary of Renesas Electronics Corporation, a Japanese semiconductor manufacturer. The transaction was completed in August 2023 using Pathway, Aon’s and Eversheds Sutherland’s solution for smaller bulk annuity transactions and Just Group’s streamlined bulk quotation service.
Jo Myerson, Chair of the Trustee for the Intersil Limited Superannuation Fund, said:
“Insuring our members’ benefits has been a key aim of the Trustee and Company, providing long term security for their benefits. We were able to complete the transaction efficiently through a hands-on approach from Aon and the flexibility and responsiveness of all parties. As Professional Corporate Sole Trustee we were able to be agile in our decision making and therefore well positioned to secure a good deal for the members in a busy insurance market where smaller schemes are not always first in the queue.”
Geraint Jones, Business Development Manager at Just Group, said:
“We are delighted to have secured the benefits of the Intersil Limited Superannuation Fund, during an extremely busy market. Working closely with the trustees and their advisers, Aon and Eversheds Sutherland, we were able to conclude the transaction very efficiently by using our streamlined bulk quotation service. There is a vibrant bulk annuity market for schemes of all sizes.”
Chris Dunford, senior consultant in Aon’s Risk Settlement Group said:
“This transaction was small for the market but important for the client and completed during an exceptionally busy period because of the straightforward execution offered by Aon’s Pathway service – designed for smaller schemes. This transaction shows how all schemes can successfully achieve their objectives if they approach the market in the right way.”
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