K3 Advisory

We are delighted to announce the successful completion of a £7 million buy-in for the Armfield Limited Pension and Life Assurance Scheme with Cartwright. The scheme, consisting of 24 pensioners and 15 deferred members, was completed on 8 March 2024. Just Group plc insured the scheme, while Cartwright provided actuarial, administration, and investment advice. Thomas Crawshaw, Lead Adviser at K3 Advisory, commented: “We continue to see strong demand for our services from sub £10 million schemes as they look to seize opportunities and secure benefits for members. Our deep understanding of the unique challenges faced by schemes of this size, combined with our specialist expertise, means we are able to come up with interesting and innovative solutions that work in practice. In an increasingly competitive market, we're proud to remain at the forefront, consistently leading the way in securing the best outcomes for our clients and their valued members.” https://lnkd.in/eCm9QWrk

Thomas Crawshaw is this week's KBPR expert of the week. Read the post below to find out more about Thomas and what he does at K3.

We are excited to announce our acquisition by Isio, which is subject to regulatory approval. For more details, please see below for the press release and here is a message from our Managing Director Adam Davis: https://lnkd.in/exHJzwPX

Andrea Mendham, Partner at K3 Advisory, has written the latest PFO blog looking at how many defined benefit (DB) pension schemes hold illiquid assets. With the rapid improvement in recent years in funding for many schemes, it isn't surprising that many have illiquid asset holdings which could prevent a full scheme bulk annuity transaction proceeding. The good news is that solutions have been developed which enable many schemes with illiquid assets to secure a bulk annuity. In the blog Andrea examines how a bulk annuity transaction can proceed where a scheme has an illiquid asset and what lessons can be learnt from experience to date. https://lnkd.in/eYqCXxmZ

K3 Advisory today announced the successful completion of the first external market transaction with Royal London for The Retreat York Pension Scheme, a not-for-profit organisation. The transaction was a £30 million full scheme buy-in which completed in July 2024 and was a market first for Royal London, a new entrant to the bulk annuity market. It secured the benefits of 202 pensioners and 108 deferred members. Adam Davis, Managing Director at K3 Advisory, commented: “We are exceptionally proud to have worked with Royal London to transact their first external deal in the bulk annuity market. As is the case with many deals of this size, the smooth and successful transaction came down to preparation and the ability to move quickly. Affordability was an issue for the Scheme and working with Royal London we were able to confidently secure attractive pricing after a short period of monitoring to enable a transaction at a level affordable to the Scheme.” #DBpensions #bulkannuities #buyin #K3 https://lnkd.in/e_N-iubQ

Andrea Mendham, Partner at K3, recently joined Alan Greenlees from ZEDRA Group and a group of pensions experts to give their perspectives on how smaller pension schemes considering a pension buy-out can overcome challenges in finding a buy-out solution. #DBpensions #bulkannuities #buyin #K3 https://lnkd.in/ddYdpAMd

We are delighted to announce the successful completion of a £12m full scheme buy-in for the Charities Aid Foundation (CAF). The deal completed in June 2024, with Just Group plc, and consisted of 64 pensioners and 155 deferred members.   Thomas Crawshaw, Senior Actuarial Consultant at K3 Advisory, commented: "This scheme had some unique elements that needed careful handling, including flexibilities in the benefit structure which needed to be covered in a way that the Trustees were happy to support. Despite the complexities of this transaction, we made it work through our deep market knowledge and collaboration with the other expert advisors on this deal.”   #DBpensions #bulkannuities #buyin #K3 https://lnkd.in/epN3hkNh

John Mayer, Senior Actuarial Consultant at K3 Advisory, has written the latest PFO blog which looks at new entrants entering the BPA market and why it’s great news for schemes, trustees, employers and members. https://lnkd.in/ejKSxh7y

Adam Davis is this week's KBPR expert of the week. Read the post below to find out more about Adam.

K3's Managing Director Adam Davis recently spoke to Greg Winterton of Life Risk News and gave his thoughts on the drivers of activity in the bulk annuity space. #DBpensions #bulkannuities #buyin #buyout #K3 https://lnkd.in/eWxWYCUj