SPM Plastics Pension Scheme completes £4m buyout with Just Group

Written by Sophie Smith

21/08/2025

The SPM Plastics Pension Scheme has completed a £4m full buyout with Just Group, securing the benefits of all 38 scheme members.

Quantum Advisory provided actuarial, investment, and administration advice on the deal, which was completed following a period of proactive risk management by the scheme and its sponsor, including an enhanced transfer value (ETV) exercise and adjustments to the investment strategy to align with insurer pricing.

Quantum Advisory consultant and actuary, David Jervis, said: "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 buyout for the scheme and its members.”

Just Group head of post transaction services, Chris Hall, agreed, holding up the deal as 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," he continued.

"We’re very pleased to have secured the benefits of all the scheme members”.

Adding to this, the trustees commented: “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.”

SPM Plastics Ltd corporate controller, Peter Belson, also welcomed the deal, explaining that securing the long-term benefits of scheme members has been a "key priority" for the group.

"With Quantum’s expert guidance and collaborative approach, we were able to manage the process confidently and deliver a great outcome for everyone involved," he stated.

"The whole transition was carefully managed and carried out with the attention, care and diligence our members deserve.”

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