Lucite International UK Pension Fund has completed a £130m buy-in with Just Group, securing the benefits of 438 uninsured members, including 156 pensioners and dependants and 282 deferred members.

WTW acted as lead adviser to the joint working group for the transaction and acted as scheme actuary and investment adviser.

Just Group received legal advice from their in-house team, while Squire Patton Boggs provided legal advice to the trustee.

Commenting on the deal, trustee chair, Kevin Leith, said: “This was a truly collaborative process with all stakeholders working closely to complete the deal.

“We now look forward to building on this success and working with Just in the next phase of our journey.”

Adding to this, Just Group senior business development manager, Martin Parker, said: “We’ve enjoyed working with the scheme trustees and their advisers on this transaction and we’re particularly pleased that we have been recognised by the trustee for providing a positive member experience.”

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