Press releases
Pension Corporation: Focussing quantitative easing would benefit pensioners
London, 7 December 2011 – If Quantitative Easing (QE) was focused away from the purchase of long dated Gilts, defined benefit (DB) pension funds would have seen their liabilities rise by only a fraction of the estimated figure of c.£200 billion1, according to research published today by Pension Corporation, a leading provider of risk management solutions to defined benefit pension funds.
Download accompanying slides here: Pension_Corp_-_QEs_impact_on_pension_fund_liabilities_FINAL.pdf.
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Pension funds focus on buy-ins as bulk annuity affordability drops
London, 7 November 2011 – Defined benefit pension funds suffered considerably as equity markets plummeted and Gilt yields touched historic lows over the past three months, according to the latest Pension Risk Transfer Index, published today by Pension Insurance Corporation. The possible double whammy effect of Gilt yields falling 30bps and equity markets falling 20%, highlighted in the last Risk Transfer Index, actually took place.
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- Risk Transfer Index
Pension Insurance Corporation insures Morris Ashby pensioners from PPF
London, 5 September 2011 – Pension Corporation, a leading provider of risk management solutions to defined benefit pension funds, today announces that the Trustees of the Morris Ashby Limited Pension Scheme have entered into a pension insurance buyout agreement with Pension Insurance Corporation (“PIC”). The pension fund has liabilities of £38 million and 480 members.
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- Clients
PIC insures ITB Closed Fund
London, 30 August 2011 – Pension Corporation, a leading provider of risk management solutions to defined benefit pension funds, today announces that the Trustees of the ITB Closed Fund have entered into a pension insurance buy-in agreement with Pension Insurance Corporation (“PIC”). The transaction amounted to £152.7m and relates to the pension fund’s 1,662 members.
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- Clients
Pension Insurance Corporation insures Nova Chemicals UK Pension Plan
London, 22 August 2011 – Pension Corporation, a leading provider of risk management solutions to defined benefit pension funds, today announces that the Trustee of the Nova Chemicals UK Pension Plan ("the Plan") has entered into a pension insurance buyout agreement with Pension Insurance Corporation ("PIC"). The insurance buyout agreement covers liabilities of £30 million and the Plan's 155 members, mainly based in Manchester.
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- Clients
A European sovereign default could push out pension fund deficits by 40%
London, 25 July 2011 – Defined benefit pension funds could be hit hard should the European sovereign debt crisis create a re-run of the credit crunch, according to the latest Pension Risk Transfer Index, published today by Pension Insurance Corporation.
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- Risk Transfer Index
Trustees aim to cut equities, increase contributions, utilise company assets
London, 4 July, 2011 – 73% of occupational pension trustees plan to reduce their allocation to equities in the next year, with 22% expecting to receive company assets, such as property, in lieu of cash contributions to help fund their deficit, according to a comprehensive survey of trustees "The Future of Pension Funds 2011", published today.
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- Surveys
Pension trustees plan on asking for significant contribution increases from their sponsor
London, 20 June, 2011 – 55 per cent of pension fund trustees are likely to increase the contributions they require from their sponsor following the next valuation by more than 10 per cent, with 11 per cent planning to increase contributions in excess of 20 per cent. That was a key finding of a leading independent survey of occupational pension fund trustees carried out by Pension Corporation, a leading provider of risk management solutions to defined benefit pension funds, in conjunction with Engaged Investor magazine.
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- Surveys
Pension Insurance Corporation insures Toray Textiles Europe Pension Scheme
London, 8 June, 2011 – Pension Corporation, a leading provider of risk management solutions to defined benefit pension funds, today announces that the Trustees of the Toray Textiles Europe Pension Scheme (“the Scheme”) have entered into a pension insurance buyout agreement with Pension Insurance Corporation (“PIC”). The transaction covers approximately £63 million of liabilities and 800 members. The company contributed £15 million to complete the transaction.
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Pension Corporation in negotiations with long-term investor
London, 27 May, 2011 - Pension Corporation, a leading provider of risk management solutions to defined benefit pension funds, is pleased to confirm that it is in exclusive negotiations with Reinet Fund S.C.A., F.I.S., ("Reinet") a specialised investment fund incorporated in Luxembourg,...
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