Isio completes first PenUltimate Micro buy-in for the Pension and Life Assurance Plan of the Godolphin Company Limited

11 March 2026: Isio has completed a £1.2 million buy-in for the Pension and Life Assurance Plan of the Godolphin Company Limited, sponsored by St Aubyn Estates Ltd. The transaction, which completed on 13 February 2026, secures the benefits of eight deferred members with Just Group and marks the first transaction completed under Isio’s new PenUltimate Micro framework – a fully bundled, end-to-end service designed to help schemes with fewer than 100 members get to buy-in, to buyout and fully wound up within two years.

Following appointment, Isio undertook a comprehensive review of the Plan’s position, applying its PenUltimate Micro approach to data cleansing and preparation for buy-in, GMP equalisation, buy-out and wind-up.

Utilising Isio’s experience and expertise in providing full services to smaller pension schemes, the scheme’s administration, actuarial and investment services were transitioned to Isio and assets were de-risked, enabling the Plan to move efficiently to secure a buy-in within seven months of Isio’s appointment, with the Plan expecting a surplus at wind-up.

The buy-in represents a significant milestone for the Plan, which had faced increasing regulatory requirements and cost pressures common to smaller arrangements. The transaction provides security for members’ benefits and a clear pathway towards full buy-out and was supported by Richard Pettit of Burges Salmon, who provided legal advice, and Terry Webster of Lindis Consulting, who advised the Sponsor.

Christian Costi, Risk Transfer specialist at Isio, said: “Completing our first PenUltimate Micro transaction demonstrates how smaller schemes can access a structured and efficient route to risk settlement. Securing long-term security for members was at the heart of this process and, through focused preparation and early market engagement, we were able to help the Trustees move from a legacy policy arrangement to a completed buy-in within a relatively short timeframe.

“By working closely with all parties, we supported the Plan in locking in improved security and reducing risk at the right time, providing members with insurer-backed benefits and establishing a clear framework for the next stages towards full buy-out and wind-up.”

Alma Goyanes-Payne, Business Development Manager at Just Group added: “The smallest of schemes can still struggle to get engagement in the market, resulting in disproportionate fees and a lengthy data cleanse process despite low member numbers. Beacon enables us to price multiple small schemes within a short window for maximum efficiency ahead of signing, and we’ve developed a micro scheme specific process to ensure small schemes like this get to buy-out very efficiently. We’re proud to continue leading the way, including at the smaller end of the market and we look forward to working with Isio on future PenUltimate Micro deals.”

Richard Pettit, Partner, Burges Salmon, stated: “It has been a pleasure to work with Isio, Terry and the trustees to rapidly implement a solution which has been transformative for the scheme and its members. With all parties working together to take a pragmatic and structured approach to any issues that were identified, a smooth and efficient process was completed ahead of the desired timescale.“

Felix St-Aubyn, Sponsor CEO and Trustee, commented: “Our small scheme had been facing increasing regulatory pressures and rising costs, with limited options to move forward. Isio brought clarity, professionalism and a clear plan of action. Within seven months, we had successfully changed pension scheme administrators and completed a buy-in, significantly improving both service and security for our members. Their expertise and focused approach have transformed the outlook for the Plan.”