Just Group completes £16m buy-in for Deutz Retirement Benefits Plan

Just Group, a specialist in retirement financial solutions, has completed a £16 million buy-in for The Deutz Retirement Benefits Plan, backed by Deutz AG, a global manufacturer of advanced drive systems with a UK presence since 1952.

The transaction was completed within six weeks, enabling the Scheme to reduce risk and take advantage of favourable market conditions.

By working closely with the Trustee and adviser, Just accelerated the process in November 2024, successfully finalising the deal in December 2024. The buy-in secures the benefits of 181 Scheme members, including 70 deferred members and 111 pensioners.

Mercer acted as the lead risk transfer adviser for the Scheme, with Shoosmiths providing legal counsel to the Trustee. Just also utilised its in-house legal team to support the transaction.

This deal was one of 129 completed by Just in 2024, setting an industry record and demonstrating the company’s ability to efficiently manage transactions of all sizes while maintaining a high standard of service.

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, added: “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, commented: “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.”

This website states: The content on this site is sourced from the internet. If there is any infringement, please contact us and we will handle it promptly.