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    • Upcoming events
      event logo
      Admin & Data Forum 2021

      This concise half-day event will explore a variety of different issues affecting scheme managers, through a combination of informative presentations and interactive panel debates, including GMP equalisation, the pensions dashboard, the accuracy and quality of members data and the latest trends in scheme administration.

      • Date: 04 Mar 2021
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      Defined Benefit Consolidation Conference

      Professional Pensions is hosting this concise digital event on the 25th March to provide a crucial update on where the current regulation stands on DB Consolidators, assess the different models available, what the expected funding levels are and the governance requirements. This event will be a combination of short presentations followed by live Q&A’s with our expert speakers allowing plenty of time to answer your questions.

      • Date: 25 Mar 2021
      • Digital Conference
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      Sustainable Investment Festival 2021

      The Sustainable Investment Festival will run online from 22-25 June and will include thought-provoking presentations from renowned keynote speakers, innovative breakout events and sessions specifically tailored to meet the information needs of fund selectors, financial advisers, pension consultants, trustees and scheme managers.

      • Date: 22 Jun 2021
      • Online, Online
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      UK Pensions Awards 2021

      The UK Pensions Awards – now in their 24th year – remain the industry's most prestigious accolades. They shine the light on excellence and recognise the advisers, providers and investment managers that offer the highest level of innovation, performance and service to occupational pension schemes and their members, and have done the most to improve this over the past year.

      • Date: 14 Sep 2021
      • London
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  • Whitepapers
    • How DC schemes can gain exposure to different asset classes in a low-return environment

      So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).

      Download
      Pension freedoms three years on

      In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.

      Download
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    You are currently accessing ProfessionalPensions via your Enterprise account.

    If you already have an account please use the link below to sign in.

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Pension Insurance Corporation

MNOPF completes £1.6bn buy-in with PIC
MNOPF completes £1.6bn buy-in with PIC

The trustees of the £3bn Merchant Navy Officers Pension Fund (MNOPF) have secured £1.6bn of members’ pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).

  • Risk Reduction
  • 10 February 2020
PIC posts record year for bulk annuities
PIC posts record year for bulk annuities

Pension Insurance Corporation (PIC) insured £7.2bn of scheme liabilities over the course of 2019, recording more new business than in any year prior.

  • Risk Reduction
  • 28 January 2020
Five stories you may have missed this week
Five stories you may have missed this week

This week’s top stories include an article about women remaining at risk of running out of money in retirement, and one about Buck winning 36 additional client contracts since launching as an independent business last year.

  • Industry
  • 13 December 2019
PIC converts Scottish Hydro-Electric Pension Scheme longevity swap into £750m buy-in
PIC converts Scottish Hydro-Electric Pension Scheme longevity swap into £750m buy-in

Pension Insurance Corporation (PIC) has agreed a £750m bulk annuity transaction, converting a pensioner longevity swap held by the Scottish Hydro Electric Pension Scheme (SHEPS) into a buy-in.

  • Risk Reduction
  • 13 November 2019
PIC invests further £40m in housing association
PIC invests further £40m in housing association

Pension Insurance Corporation (PIC) has boosted its investment in social housing with a £40m further allocation to Soha Housing.

  • Investment
  • 28 October 2019
Buy now while stocks last: Risk reduction ramps up
Buy now while stocks last: Risk reduction ramps up

As the risk reduction market gets busier and busier, Jonathan Stapleton says preparations must become more comprehensive for schemes to gain a foothold.

  • Risk Reduction
  • 03 October 2019
Bulk annuity market breaks yet another record with £17bn of first half deals
Bulk annuity market breaks yet another record with £17bn of first half deals

Around £17.5bn of buy-ins and buyouts were transacted in the first half of the year as market records continue to tumble.

  • Risk Reduction
  • 08 August 2019
British American Tobacco scheme completes £3.4bn buy-in with PIC
British American Tobacco scheme completes £3.4bn buy-in with PIC

The British American Tobacco (BAT) UK Pension Fund has completed a £3.4bn buy-in with Pension Insurance Corporation (PIC), the largest buy-in transaction including pensioner and deferred members.

  • Risk Reduction
  • 01 August 2019
PIC invests £100m in East Midlands Housing Group
PIC invests £100m in East Midlands Housing Group

Pension Insurance Corporation (PIC) is investing £100m of debt funding in East Midlands Housing (EMH) Group.

  • Investment
  • 22 July 2019
PIC invests £40m in housing association
PIC invests £40m in housing association

Pension Insurance Corporation (PIC) has invested £40m in debt issued by Scottish Borders-based Eildon Housing Association.

  • Investment
  • 15 July 2019
PIC to raise debt capital to back booming bulk annuity business
PIC to raise debt capital to back booming bulk annuity business

Pension Insurance Corporation (PIC) has announced plans to raise further debt capital in order to support business growth in a burgeoning bulk annuity market.

  • Risk Reduction
  • 12 July 2019
PIC signs £5.8bn of bulk annuity business in H1
PIC signs £5.8bn of bulk annuity business in H1

Pension Insurance Corporation (PIC) has so far racked up £5.8bn of buyouts and buy-ins with defined benefit schemes this year, while reinsuring £7bn of longevity risk, it has revealed.

  • Risk Reduction
  • 24 June 2019
M&S completes £1.4bn buy-ins with Phoenix and PIC
M&S completes £1.4bn buy-ins with Phoenix and PIC

The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.

  • Risk Reduction
  • 23 May 2019
Green up to 'old tricks' over plans to halve Arcadia pension funding, warn MPs
Green up to 'old tricks' over plans to halve Arcadia pension funding, warn MPs

The Work and Pensions Committee (WPC) has criticised Arcadia's proposals to halve the deficit recovery contributions of its pension schemes as part of a company restructure.

  • Industry
  • 11 April 2019
PIC invests £40m in Northamptonshire housing
PIC invests £40m in Northamptonshire housing

Pension Insurance Corporation (PIC) has entered into a £40m agreement with Greatwell Homes to support the development of 600 affordable homes in Northamptonshire.

  • Risk Reduction
  • 08 April 2019
Dresdner Kleinwort Pension Plan agrees £1.2bn buy-in; Deal covers hybrid benefits
Dresdner Kleinwort Pension Plan agrees £1.2bn buy-in; Deal covers hybrid benefits

The trustees of the Dresdner Kleinwort Pension Plan have completed a full £1.2bn buy-in with Pension Insurance Corporation - covering the scheme's £900m final salary section as well as a £300m money purchase section.

  • Risk Reduction
  • 02 April 2019
PIC invests £65m in affordable homes
PIC invests £65m in affordable homes

Pension Insurance Corporation (PIC) has entered a £65m agreement with Livin Housing to develop affordable housing in County Durham.

  • Investment
  • 01 April 2019
FTSE 100 buyouts 'could boom to £300bn' over next decade
FTSE 100 buyouts 'could boom to £300bn' over next decade

The volume of insured buyouts from FTSE 100 defined benefit (DB) schemes could increase from £5bn to £300bn by 2029, according to Lane Clark & Peacock (LCP).

  • Risk Reduction
  • 25 March 2019
PIC posts £7.1bn of bulk annuity deals in 2018 taking nearly a third of the market
PIC posts £7.1bn of bulk annuity deals in 2018 taking nearly a third of the market

Pension Insurance Corporation's (PIC) bulk annuity business transacted £7.1bn of buy-ins and buyouts over the course of 2018, its annual results reveal.

  • Risk Reduction
  • 07 March 2019
Co-op enters £425m buy-in in PIC's first deal of 2019
Co-op enters £425m buy-in in PIC's first deal of 2019

The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.

  • Risk Reduction
  • 17 January 2019
PIC invests £125m in Exeter university accommodation
PIC invests £125m in Exeter university accommodation

Pension Insurance Corporation (PIC) has boosted its investment in student accommodation in a £125m further allocation to the University of Exeter.

  • Investment
  • 10 January 2019
PIC agrees £1.2bn longevity reinsurance deal with SCOR
PIC agrees £1.2bn longevity reinsurance deal with SCOR

Pension Insurance Corporation (PIC) has reinsured £1.2bn of its longevity risk with French company SCOR, the second deal between the two insurance companies.

  • Risk Reduction
  • 11 December 2018
Rentokil Initial agrees £1.5bn buy-in with PIC ahead of 2020 buyout
Rentokil Initial agrees £1.5bn buy-in with PIC ahead of 2020 buyout

The Rentokil Initial 2015 Pension Scheme has secured a buy-in covering 14,200 members in a £1.5bn deal with Pension Insurance Corporation (PIC).

  • Risk Reduction
  • 04 December 2018
AMP launches second year of female actuarial mentoring scheme
AMP launches second year of female actuarial mentoring scheme

The Actuarial Mentoring Programme (AMP) has launched its second year of providing support and guidance to female professionals with an 80% increase in participating organisations.

  • Training
  • 19 November 2018
123

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BT, Ford and M&S schemes granted extension for legal challenge over government's decision to align RPI with CPIH
BT, Ford and M&S schemes granted extension for legal challenge over government's decision to align RPI with CPIH
Chancellor Sunak 'likely' to freeze lifetime allowance
Chancellor Sunak 'likely' to freeze lifetime allowance
Scottish Widows adds 289,000 members to build workplace market presence
Scottish Widows adds 289,000 members to build workplace market presence
DB funding - February 2021: Gilts-plus deficit eliminated, says PwC
DB funding - February 2021: Gilts-plus deficit eliminated, says PwC
Rothesay agrees £120m buy-in with Reach
Rothesay agrees £120m buy-in with Reach
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