are you a policyholder?Policyholder Lounge
  • Resources
  • Contact us
  • Search
  • Login
    POLICYHOLDER LOGIN

    Login to the secure site for PIC policyholders, giving you real time access to your pension benefits. To log in to an event, please go to the Policyholder Lounge

  • About us

    About us

    Our new brand Our purpose Who we are Our team
    The Board Management Working for us
    Our clients Testimonials Our culture and values
    Why the penguins?
    Customer care
    Vulnerable customers Making a complaint How to tell us that a policyholder has died How to avoid being scammed
    Our latest awards
    Awards archive
    Task Force on Climate-Related Financial Disclosures (TCFD) Modern Slavery Statement Diversity Statement Tax Strategy Our charity partners
  • What we do

    What we do

    Overview What is a pension insurance buyout?
    Route to buyout
    What is a pension insurance buy-in?
  • How we do it

    How we do it

    Our approach
    Innovative and flexible Risk management
    Operational excellence
    Treating customers fairly
    Asset and Liability Management
    Infrastructure investment
    Financial strength & security
  • Financials

    Financials

    PICG FY 2021 Financial Highlights PIC and PICG Financial Results and Reports Regulatory returns Bondholder information
    Credit rating Bondholder documentation
  • Events

    Events

    Policyholder events
  • The Purpose of Finance

    The Purpose of Finance

    Thought Leadership
  • Media

    Media

    Press Releases Media contact
are you a policyholder? Policyholder Lounge
Login

POLICYHOLDER LOGIN

Login to the secure site for PIC policyholders, giving you real time access to your pension benefits. To log in to an event, please go to the Policyholder Lounge

  • Resources
  • Contact us
  • Search

    Show all ()
Pension Insurance Corporation Pension Insurance Corporation
  • About us

    About us

    Our new brand Our purpose Who we are Our team
    The Board Management Working for us
    Our clients
    Testimonials Our culture and values
    Why the penguins?
    Customer care
    Vulnerable customers Making a complaint How to tell us that a policyholder has died How to avoid being scammed
    Our latest awards
    Awards archive
    Task Force on Climate-Related Financial Disclosures (TCFD)
    Modern Slavery Statement Diversity Statement Tax Strategy Our charity partners
  • What we do

    What we do

    Overview
    What is a pension insurance buyout?
    Route to buyout
    What is a pension insurance buy-in?
  • How we do it

    How we do it

    Our approach
    Innovative and flexible Risk management
    Financial strength & security
    Operational excellence
    Treating customers fairly
    Asset and Liability Management
    Infrastructure investment
  • Financials

    Financials

    PICG FY 2021 Financial Highlights Bondholder information
    Credit rating Bondholder documentation
    PIC and PICG Financial Results and Reports
    Regulatory returns
  • Events

    Events

    Policyholder events
  • The Purpose of Finance

    The Purpose of Finance

    Thought Leadership
  • Media

    Media

    Press Releases
    Media contact
  • Home
  • How we do it
  • Operational excellence

How we do it

  • Our approach
  • Operational excellence
    • Treating customers fairly
  • Asset and Liability Management
  • Financial strength & security
Share

Operational excellence

PIC’s success in being chosen by our customers for buy-in and buyout transactions reflects not only our ability to competitively price and structure innovative insurance policies, but also reflects the excellence of our operation, administration and transition teams.

A full buyout requires multiple lines of activity to be managed and coordinated to translate the initial insurance deal (a “buyin”) into the issuing of individual policies to the pension fund members (the “buyout”), thereby achieving liability discharge for both the trustees and the sponsor. 

PIC offers the flexibility and modern processes needed to complete a transaction well within the average industry timescales. In particular our experience includes:

  • Agreeing and meeting six and nine month transition deadlines from signed transaction to full buyout
  • Agreeing “all risk” transactions, with complete risk removal for the Trustee and Employer within days of the transaction; and 
  • Accommodating the special needs and requirements of PPF and insolvent employer pension funds.

PIC is proud of our standards of policyholder care, including:

  • PIC engages with several agencies to provide a layered approach tracing missing policyholders:
    • To date reunited over 2,000 “lost” policyholders and their dependants with pension benefits
    • All of these are people that the Scheme Trustees had previously tried to trace without success
  • Platinum status from the Plain English Campaign for having over 100 policyholder communications Crystal Marked for clarity
  • PIC awarded the Institute of Customer Service’s ServiceMark with distinction for outstanding customer service
  • PIC’s Senior Management met and spoke to more than 2,000 customers at our complimentary policyholder events. Find out more about these events here.

We believe that the above characteristics of our service are unique in our sector. 

Share
  • Home
  • Sitemap
  • Privacy policy
  • Terms of use
  • Cookie Policy
  • Making a complaint
  • Manage cookie preferences

© Copyright 2022 Pension Insurance Corporation plc

by Emperor

Pension Insurance Corporation plc is registered in England and Wales under company number 05706720. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). Its registered office is at 14 Cornhill, London EC3V 3ND.
 
PIC is proud to hold a range of industry awards and accreditations. See our latest awards.

Our use of cookies

Our website uses ‘necessary cookies’ to make it work. To help us understand the information you’re most interested in and improve our website, we’d like to use ‘optional cookies’ but only if you allow this.


Our ‘Manage cookie preferences’ tool gives you control over the types of cookies used when you visit our website; you can use the ‘Manage cookie preferences’ link at the bottom of any page on the website to review or update your cookie preferences.


For more detailed information about the cookies we use, please visit our Cookies page.

Accept all cookies Manage cookie preferences

FOR MORE INFORMATION ON HOW OUR COOKIES WORK, PLEASE SEE OUR ‘COOKIES’ PAGE

Necessary Cookies

Necessary cookies enable core website functionality such as security, network management and accessibility. You may disable these by changing your browser settings, however this may affect how the website functions.

Analytics Cookies

Analytics cookies help us improve our website by collecting and reporting information on how you use it. The cookies will collect information in a way that does not directly identify anyone.

Tracking Cookies

Tracking cookies help us understand which information may be relevant to you and the services you use if you share the information published on our website. We may use this information to tailor the information you see on our own and other websites and apps.

Save and Close
>