The Trustee of the Scheme entered into an agreement with the insurance company Just Retirement Limited (“Just”) in 2022 to secure DB Plan members’ benefits. The DB Plan will be closed (known as being ‘wound up’) and the winding-up process commenced with effect from 31 March 2024.
The Trustee of the Scheme has been in regular contact with DB Plan Members regarding Just taking over the responsibility for DB Plan benefits. You can read these communications here.
November 2024 update
Just will shortly be solely responsible for the administration and payment of DB Plan pension benefits going forwards. As a result, from that point you are no longer a member of the Baptist DB Plan - instead you're a policyholder with Just.
Just will issue you with a policy covering those benefits in the next few weeks. The policy issued to you will secure your pension benefits due from the DB Plan in full.
If you are in the process of retiring and you have received a retirement quote, or if you are in the middle of a query about your benefits, this information and the related paperwork will be passed over to Just. Please contact Just about your retirement quote or to follow up your query, using the contact details below:
Tel: 0808 281 5030
Email: just@broadstone.co.uk
By post: Just, Broadstone House, 23-25 St George’s Road, Bristol, BS1 5UU
If you have any immediate questions regarding the insurance policy that has been purchased for you or regarding your DB Plan pension benefits, please contact the Baptist Pension Team using the contact details here.
Although your DB Plan pension benefits are moving to Just, the DC Plan will continue to be run as part of the Baptist Pension Scheme. If you’re currently paying into the DC Plan, this will continue as before. None of your DC Plan pension savings will be moved to Just. Your DC Plan savings will continue to be administered by Broadstone and looked after by the Trustee of the Scheme.