Brittany Ferries has secured a £35m full scheme buy-in with Just Group.
Broadstone provided advisory and administration services on the deal, offering annuity broking alongside its role as scheme actuary.
The transaction means that both deferred and retired scheme members will have their pension benefits insured. In total the Brittany Ferries Group Pension and Life Assurance Scheme covers 175 pensioners and 269 deferred members.
Broadstone senior actuarial director and deal lead Mark Channon says: “Using Broadstone’s SM&RT Insure service, we presented aprepared Scheme to the insurance market enabling Just Group to execute the transaction very efficiently.
“Being able to complete the initial buy-in with no additional contribution is testament to the work done by the trustees and their advisers over many years. We look forward to working with the trustees and Just Group over the coming months to finalise the policy.”