Date: 4 September 2026
The buy-in, which completed in June 2026, secured the benefits of 87 members, comprising 62 pensioners and 25 deferred members. The Scheme was in surplus at the time of the transaction.
Cartwright acted as scheme administrator, actuary and secretary to the trustees, providing lead advisory support throughout the process. Just Group acted as the insurer, with Dean Wetton Advisory (DWA) acting as broker. Investment management services were provided by SEI Investments, while legal advice was provided by Burges Salmon.
Tony Grist, Director at Cartwright Pension Trusts, commented: “A successful buy-in is the result of careful preparation and a clear long-term strategy. By working closely with the trustees throughout the process, we helped ensure the Scheme was well positioned to move forward when the opportunity arose. The Scheme's strong funding position provided the trustees with the flexibility to progress their de-risking strategy.
"Combining actuarial, administration and governance expertise under one roof enabled us to provide joined-up support at every stage of the transaction, helping the trustees achieve their objectives while strengthening the security of members' benefits.”
Dean Wetton, Managing Director at DWA, said: "The Scheme was well prepared to enter the market, supported by its strong funding position and clear objectives. That enabled us to run a competitive process, working closely with the trustees and their advisers to secure an excellent outcome with Just. It was a pleasure to work alongside all the advisers to complete a transaction that enhances the long-term security of members' benefits. For DWA, this transaction represents an important milestone as we continue to establish ourselves as a new entrant to the annuity broking market. We are proud to have demonstrated our ability to deliver competitive outcomes alongside the market’s established names.”
