Boys’ Brigade pension scheme secures £4.5m buy-in with Just Group

The 1973 Pension & Assurance Scheme of The Boys’ Brigade has secured a £4.5m full scheme buy-in with Just Group, insuring the benefits of 49 members, comprising 15 deferred members and 34 pensioner members.

The transaction completed the buy-in of all scheme liabilities and was achieved without needing an additional contribution from the charity. The scheme will now proceed to full buyout and wind up.

Broadstone provided annuity broking advice and administration services and took on the role of scheme actuary. DWF LLP provided legal advice to the trustees, while Just Group received advice from its in-house team.

The scheme is sponsored by The Boys' Brigade, a registered charity and large Christian youth organisations in the United Kingdom.

Chair of trustees, Alistair Burrow, said the trustees were "delighted" that it managed to secure the benefits for members, without additional contributions from the charity.

He added that the trustees were confident that Broadstone and its other advisors would guide the scheme through the process and extended thanks on behalf of the trustee board to all parties involved for their hard work and collaboration throughout.

Junior deal manager at Just Group, Jerome Johnston, commented: "We are very pleased to have secured the benefits of all the scheme members and to have worked with Broadstone again to meet the trustees’ objectives.

"We were able to move quickly from indicative quote through to transaction, thanks to Beacon."

Adding to this, deal lead at Broadstone, George Whitaker, said: "It is great to demonstrate once again that well-prepared schemes of all sizes can achieve a cost-effective insurance transaction in a busy market."



Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.


Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.