The Intersil Limited Superannuation Fund has completed a £1.5m full scheme buy-in deal with Just Group.

The trustees were advised by Aon and made use of Pathway, Aon and Evershed Sutherland’s solution for smaller bulk annuity transactions.

Commenting on the deal, Intersil Limited Superannuation Fund trustee chair, Jo Myerson, stated: “Insuring our members' benefits has been a key aim of the trustee and company, providing long term security for their benefits.

“We were able to complete the transaction efficiently through a hands-on approach from Aon and the flexibility and responsiveness of all parties.

“As professional corporate sole trustee we were able to be agile in our decision making and therefore well-positioned to secure a good deal for the members in a busy insurance market where smaller schemes are not always first in the queue.”

Just Group business development manager, Geraint Jones, added: “We are delighted to have secured the benefits of the Intersil Limited Superannuation Fund, during an extremely busy market.

“Working closely with the trustees and their advisers, Aon and Eversheds Sutherland, we were able to conclude the transaction very efficiently by using our streamlined bulk quotation service. There is a vibrant bulk annuity market for schemes of all sizes.”

This sentiment was echoed by Aon senior consultant, Chris Dunford, who said that while this transaction was small for the market, it was important for the client and completed during an exceptionally busy period because of the straightforward execution.

"This transaction shows how all schemes can successfully achieve their objectives if they approach the market in the right way," he said.

---