• Enhanced technology platform facilitated 6 week execution, including streamlined pricing with Beacon
• Continues Just Group’s strong momentum in the defined benefit de-risking market
Just Group (“Just”) has completed a £16m buy-in with The Deutz Retirement Benefits Plan (the “Scheme”), sponsored by Deutz AG (the “Sponsor”), one of the world’s leading manufacturers of innovative drive systems, with a presence in the UK since 1952. The transaction was completed in only six weeks, meeting the Scheme’s need to reduce risk and take advantage of attractive market conditions. Working with the Trustee and adviser, Just was able to accelerate the transaction in November 2024, with the deal completing in December 2024. The buy-in insures the benefits of 181 Scheme members, comprising 70 deferred members and 111 pensioners. Mercer acted as the lead risk transfer adviser for the Scheme, Shoosmiths provided legal advice to the Trustee, and Just received in-house legal support. This transaction was one of 129 deals completed by Just in 2024, a record number for the industry and a clear demonstration of the firm’s ability to continue to scale and offer efficient and consistent service across transactions of every size and type.
Ross Breckon, Business Development Manager at Just Group said, “Just’s investment in technology to deliver faster, more accurate pricing though our innovative Beacon service and creation of a streamlined execution process, empowers schemes to leverage favourable market conditions. Just’s technology-enabled solution is being successfully deployed for schemes of all sizes.”
Suchi Dench, Risk Transfer Consultant at Mercer said, “Just facilitated a transaction to meet accelerated timescales so that the Trustees could take advantage of favourable market conditions, securing members’ benefits in full. Even at the smaller end of the market, we successfully enabled a competitive process. This is great news for smaller pension schemes as it provides choice for trustees
in a busy market.”
Oliver Neu, Chairman, The Deutz Retirement Benefits Plan said, “We have always prioritised keeping the promises made to our members, and this buy-in enables us to protect those commitments with confidence. We are grateful to Mercer for their skilled leadership in navigating the market, obtaining a competitive process, and helping us achieve our objectives. The timescales in which we requested
the buy-in to be completed required tremendous effort from all advisers involved. Our special thanks go to the teams at Mercer, Shoosmiths, and Aptia for their support to the Trustee throughout the process.”
Deutz AG added, “Supporting our pension scheme members has always been a fundamental priority for Deutz AG. The company has contributed significantly to the scheme on behalf of the members over the years. We are very pleased to have worked collaboratively with the Trustees to secure a full buy-in, which enhances the security of our pension scheme members.”
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