The Noble Denton Consultants Limited Pension Scheme has completed a £11.4m full scheme buy-in with Just Group, securing the benefits of 106 members.

Gallagher advised the trustee on the transaction, having been appointed as risk transfer broker in 2025.

Zedra Governance Limited acted as sole trustee to the scheme, Taylor Wessing provided legal advice to the trustee, and Cartwright acted as scheme actuary and administrator.

Just was advised by its in-house legal counsel.

Gallagher worked with the trustee and other advisers to prepare the scheme before approaching the market in September 2025.

Following a competitive process, which resulted in what were described as attractive pricing terms, Just was selected as the preferred provider.

The trustee and sponsor were then able to move swiftly to execute the buy-in before the end of the year.

Just Group deal manager, Jerome Johnston, said the insurer was “extremely pleased” to support the trustee and sponsor through a rapid process that was priced and executed within their timeline, highlighting the preparatory work undertaken and the use of its Beacon price-monitoring service to facilitate competitive pricing.

Zedra Governance Limited client director, Alan Greenlees, described the deal as “a significant milestone” in the scheme’s journey and said he was delighted that members’ retirement benefits had been secured for the long term.

He said the transaction reflected close collaboration among the trustee, sponsor, and advisers, noting that the use of escrow to support the deal provided greater flexibility and certainty in achieving completion in 2025.

He added that Gallagher’s clear advice, alongside Just’s focus on positive member experience, made the final decision straightforward.

Echoing this, Gallagher head of risk transfer, Mark van den Berghen, said the firm was “delighted” to have helped the trustee select Just, describing the transaction as a strong outcome for the scheme and its members.

He stressed that Gallagher had closely monitored insurer pipelines and determined that running a competitive process would deliver the best possible outcome, working with the trustee and co-advisers to ensure the scheme was well prepared to transact before year-end.

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