K3 Advisory, part of Isio Group, has successfully led a £4 million full scheme buy-in transaction for the Apostolic Church Staff Pension Scheme with Just Group. Legal advice was provided by JMW, actuarial advice by Goddard Perry Actuarial, investment advice by Barker Tatham and administration services by MUFG.
The buy-in process was led by K3 who were appointed for their clear, solutions-orientated approach and specialist expertise in advising smaller schemes on complex risk settlement transactions.
The transaction secures the benefits of 51 pensioners and dependent pensioners, as well as 12 deferred members. Preparations for the transaction included the successful merger of an unfunded top-up arrangement into the main Scheme. This required close collaboration between the Trustees, sponsor, advisers and Just to deliver a unified solution that secures benefits for all members across both arrangements.
Geoff Bollands, Chair of the Trustees, commented: “We are pleased to announce the completion of this buy-in. Achieving this result required a strong, cooperative effort between all parties. With K3’s guidance and the support of our advisers and insurer, we’ve delivered long-term security for all members of the Scheme”
Thomas Crawshaw, senior consultant and deal lead at K3, said: “We’re delighted to have supported the Trustees in reaching this milestone. This buy-in is a great example of what can be achieved through early planning, alignment of stakeholders and a proactive approach to risk settlement, particularly for smaller schemes navigating complex structures”.
Kishan Radia, at Just Group, comments: “We are proud to have helped secure the benefits of the members in this scheme. Our work with K3 demonstrates Just’s continued commitment to delivering efficient, high-quality service to pension schemes of all sizes”.
Media Contacts
For all media enquiries please contact: press@ISIO.com