The Ridsdale Pension and Death Benefit Trust has completed a £7m full scheme buy-in with Just Group, securing the benefits of 30 members, comprising 22 pensioners and eight deferred members.

The transaction included an insurer-led data cleanse and guaranteed minimum pension (GMP) equalisation process, with Just assuming responsibility for key elements of the work to support a timely and certain path to buyout.

The structure is designed to align with a wider corporate restructuring, with a contractual commitment to complete the buyout by summer 2026, giving both the trustee and sponsor clarity and certainty as the scheme moves towards wind-up.

Under the arrangement, Just is taking a more active role than is typical in managing the data-cleansing journey, using an agreed-upon GMP equalisation methodology.

The approach is intended to help schemes with the right profile accelerate their journey to buyout and avoid the delays and costs often associated with lengthy administrative exercises.

Just said it expects insurer-led data and GMP solutions to become more common across the market and plans to selectively build on this approach through 2026.

The trustees were advised by PwC as lead risk transfer adviser, with legal advice provided by Gowling.

Just Group was advised by CMS and its internal legal counsel.

Aretas Trustees' trustee, Nadeem Ladha, said Just was selected because it can support data cleansing and GMP equalisation, alongside a guaranteed buy-out process that would complete ahead of the sponsor’s corporate deadline, describing this as a "critical factor" given the tight timetable to wind up the scheme.

Just Group defined benefits (DB) director of commercial, Rob Mechem, added that the insurer was pleased to support the scheme through a complex corporate timetable, helping to accelerate progress to buyout.

He explained that insurers are well placed to take on more responsibility for data cleansing and GMP work, enabling firmer commitments on timelines and delivering a quicker and more cost-effective route to buyout for trustees and sponsors.

Meanwhile, PwC risk transfer deal lead, James Keates, said the transaction demonstrated how the market continues to evolve, with insurers and advisers developing new solutions for schemes with clear objectives and defined endgames.

Goodfellow Cambridge Limited chief financial officer, Andrew Watson, added that the collaborative and proactive approach taken by Just, the trustees and advisers would ensure the buyout could be completed in time to meet corporate obligations in 2026, while safeguarding members’ benefits for the long term.

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