John Cotton pension scheme completes £11m buy-in with Just Group

Written by Sophie Smith

26/08/2025

The John Cotton (Mirfield) Limited Retirement Benefits Scheme has completed an £11m full scheme buy-in with Just Group, insuring the retirement benefits of the remaining 105 uninsured members of the scheme, including 48 deferred and 57 pensioners.

Isio acted as the lead risk transfer adviser for the scheme, which is sponsored by John Cotton Group Limited, while Squire Patton Boggs provided legal advice to the trustees and Just Group was advised by in-house legal counsel.

Trustee chair, Stephen Swalwell, highlighted the buy-in as a "pivotal step" in the scheme’s de-risking strategy.

"As our trusted adviser, Isio’s expertise was instrumental in coordinating all parties and guiding us, with the support of legal advice from Squire Patton Boggs, through the complexities of this transaction," Swalwell stated.

"We extend our gratitude to Just Group, Isio and Squire Patton Boggs for their collaborative approach, which delivered both immediate security and long-term stability for our members.”

Adding to this, John Cotton Group life president, John Cotton, said: ”As a family business with over a century of heritage, we take pride in fulfilling our obligations to current and former employees.

"This buy-in reinforces our commitment to responsible stewardship and ensures the scheme’s benefits are protected for the long term. I’d like to thank my fellow trustees and our advisers for their dedication in achieving this outcome."

Just Group deal manager, Alma Goyanes-Payne, said the deal was also a "great example" of how smaller schemes are benefiting from a dynamic and flexible insurance market.

"Beacon, our market-leading solution, provides schemes of all sizes with ready access to a price monitoring and bulk quotation service," she explained.

"Beacon equips parties to the deal with the insight to move quickly to complete the transaction when the price aligns with the scheme’s target price."

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