About Pension Corporation

Pension Corporation provides innovative, bespoke risk management solutions to the trustees and sponsors of defined benefit pension funds, bringing safety and security to member benefits.

Pension Corporation is the umbrella brand for:

• Pension Insurance Corporation (PIC), an insurance company authorised and regulated by the Financial Services Authority (FSA). It is the company with which our clients transact
• Pension Security Insurance Corporation Ltd (PSIC), a fully authorised Guernsey reinsurer. PSIC provides the capability to reinsure specific risks for pension funds and pension sponsors

PIC works with each client on their specific requirements and tailors a solution that fits their needs, rather than offering a limited range of products. This ethos of client service, combined with our relentless risk management and focus on innovative, tailored solutions, has propelled us to a position of market leadership.

Insuring a defined benefit pension provides a secure stream of payments to pension scheme members secured under the regulatory regime overseen by the FSA. PIC holds significantly more assets than is required to back its commitments and has a conservative investment strategy, ensuring it is always able to pay its policyholders' pensions as they fall due.

PIC has insured c.60,000 pension fund members, has £5.5 billion in assets and has worked with clients including:

PIC prides itself on working closely with all stakeholders involved in a transaction to provide innovative solutions to pension issues. 

"After an extremely competitive process of considering all the options for enhancing member benefit security, the Trustee is delighted to have appointed Pension Insurance Corporation as its partner for the provision of bulk annuities. At a very challenging time in the investment markets, Pension Insurance Corporation was able to protect members' final salary benefits while also providing a financial uplift. The Trustee believes that this buyout represents the best overall outcome for the Fund's members."

Chair of the Trustee, Thorn Pension Fund, December 2008