Governance Financial Statements
Strategic Report
19
Bedrock of Britain Supporting small and medium size schemes is in our DNA and we are passionate about helping them to access the security that de-risking with an insurer delivers. We are proud to have worked with some of the great organisations that are part of the heritage of Britain covering a spectrum of industries – such as S.A. Brain & Co (brewery), Wednesbury (copper tubing manufacturer), St.Modwen (sustainable house builder) and First Milk (British farming co-operative) to name a few. De-risking their DB pension schemes means that these businesses can focus on growing their business, their contribution to the economy and their communities, with legacy DB obligations and the associated risks now managed by Just. A reputation for excellence 2024 also saw us complete our third largest transaction to date, a £510m Buy-in with a global engineering company and pioneers in creating technology for communication. This was our third transaction with the company. When trustees choose to contract with you to deliver further services it provides a strong sense of pride inside Just. It’s a clear signal that we are trusted to deliver outstanding service and value to members. Member first When it comes to innovation – our north star is providing the very best experience we can for our members. At the start of the year, we carried out a piece of research with over 1,500 members of DB schemes to surface how they feel about planning and managing their retirement and how that could inform how we support them. The headline conclusion was that none of us should assume that just because someone has a gold standard DB pension it means that they don’t need support and help as they approach, and journey through retirement. In particular, for those approaching retirement they could be in a position where their DB pension is only one of perhaps four or more retirement savings pots they have in place. We identified that for schemes moving to Buy-out, those members may not have access to help, support and advice. To close this gap, we’ve launched a member advice service in conjunction with our sister company HUB Pension Consulting. Another example of Just becoming better for its members.
JUST GROUP | TOTAL DB DE-RISKING SALES
6
150
5
120
4
90
3
60
2
30
1
0
0
Total DB (£bn)
Number of transactions
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