Just Group has completed a £290m buy-in deal with the ITB Pension Funds (Open Fund), meaning that all of the scheme members’ benefits have now been secured.
Marking the fifth and final buy-in by the fund, the deal was achieved earlier than planned after the trustee identified a material improvement in the funding position and was able to move quickly to secure it through a final buy-in.
The trustee was advised by LCP across all its transactions.
Just Group head of DB sales, Pete Jennings, stated: “We are very proud to have secured the financial security of the remaining members of The ITB Pension Funds (Open Fund).
“We really enjoy repeat transactions when clients come back. It’s an endorsement of the high service standards the end-to-end team at Just strives to offer clients before, during and after a transaction.”
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