Quantum Advisory, the leading pensions and employee benefits consultancy for small and medium sized schemes and employers, today announced the successful completion of a full £4 million buy-out for the SPM Plastics Pension Scheme.
The transaction secured the benefits of all 38 members. Quantum Advisory provided actuarial, investment, and administration, Just Group was the insurer.
David Jervis, Consultant and Actuary at Quantum Advisory, commented: “The transaction followed a period of proactive risk management by the scheme and its sponsor, including an enhanced transfer value (ETV) exercise and timely adjustments to the investment strategy to align with insurer pricing. Data quality and thorough preparation were pivotal, from the detailed administration checks undertaken, to ongoing reviews and mortality tracing. This gave insurers confidence and helped avoid surprises during the data cleanse. Combined with early engagement on investment strategy and strong collaboration between all parties, we were able to deliver a smooth and cost-efficient transition from buy-in to buy-out for the scheme and its members.”
Chris Hall, Head of Post Transaction Services at Just Group, commented: “This transaction is a great example of how early preparation and strong collaboration between all parties can deliver real efficiencies. The high standard of data and clarity of communication from Quantum and the Trustees meant we were able to proceed with confidence and meet the Scheme’s objectives effectively. We’re very pleased to have secured the benefits of all the scheme members.”
The Trustees added: “Working with Quantum on this risk transfer was a very positive experience. They navigated the process from start to finish with professionalism and attention to detail that made it a smooth and successful journey.”
Peter Belson, Corporate Controller at SPM Plastics Ltd, concluded: “Securing the long-term benefits of our scheme members was a key priority for us. With Quantum’s expert guidance and collaborative approach, we were able to manage the process confidently and deliver a great outcome for everyone involved. The whole transition was carefully managed and carried out with the attention, care and diligence our members deserve.”
