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New & insight
About Us
Trustees
Policyholders
Purposeful investments
Sustainability
Investors
New & insight
Pension Insurance Corporation plc (“PIC”), a specialist insurer of defined benefit pension schemes, has concluded an £83 million full buy-in with The Royal Society of Chemistry Pension Scheme (“Scheme”), securing the benefits of all 468 Scheme members.
The Royal Society of Chemistry works at the heart of the chemical sciences community, connecting people and ideas through partnerships, conferences, events and networks, publishing discoveries and insights from a truly global research community. It campaigns to protect our natural environment and tackle discrimination, aiming to build a truly inclusive world and helps create a future that is more open, more green and more equal.
Andy Pateman, Chair of Trustees for The Royal Society of Chemistry Pension Scheme, said: “We are delighted to have reached this important milestone, securing our members’ benefits for the long term. Right from our first conversations with PIC, we have been impressed by their approach to customer service – they have shown they are the right partner to support our ambitions in de-risking the Scheme. I want to thank my co-Trustees (especially our Professional Trustee Alison Bostock from Zedra), our many advisors and the PIC team for their focus, dedication and communication, helping us reach this stage so efficiently. It has been a pleasure working with such a professional group of people.”
Jake Stanbridge, Origination Actuary at PIC, said: “PIC’s customer service capability and proven expertise in supporting schemes through complex de-risking journeys were key to securing this transaction. The Trustee was impressed by our ability to deliver first-class service from the outset, while providing the experience and certainty needed to help de-risk the Scheme.”
Jamie Naik, Principal at LCP, said “This transaction demonstrates the benefits of a well-prepared scheme and a strong, collaborative relationship between the Trustees and sponsor with a real focus on member outcomes. That shared focus and alignment helped achieve a strong outcome for both parties, while further improving the security of members’ benefits.”
PIC were advised by CMS (Cameron McKenna Nabarro Olswang). LCP were the lead transaction advisers to the Trustees, with Addleshaw Goddard and Osborne Clarke providing legal advice, and Mercer providing actuarial and investment advice.
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Notes to Editors
Chelsey Wheeler
Public Relations – Senior Manager
Wheeler@pensioncorporation.com
+44 (0)7586 686414
About PIC
The purpose of PIC is to pay the pensions of its current and future policyholders. PIC provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. At full year 2025, PIC had insured 438,000 pension scheme members and had £54.8 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buy-ins to the trustees and sponsors of UK defined benefit pension schemes. At 31 December 2025, PIC had made total pension payments of £19.3 billion to its policyholders and had invested more than £15 billion in the UK economy, creating considerable social value. Clients include FTSE 100 companies, multinationals and the public sector. PIC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). For further information please visit www.pensioncorporation.com
