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Press releases

Pension Insurance Corporation appoints Mercer to provide pensions administration services

13th March 2012

London, 13 March 2012
Pension Insurance Corporation ("PIC"), a leading provider of risk management solutions to defined benefit pension funds, has appointed Mercer to provide pensions administration services for its book of insured business, covering more than 50,000 pension policies. Mercer will provide record keeping, payroll, administration and communication services to PIC. 

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2012 could be worst year for pension funds, but good year for buy-ins

7th February 2012

London, 7 February 2012 – UK defined benefit pension funds may face significant risks in the first few months of 2012, including a third round of Quantitative Easing in February, a potential Greek default in March, and a possible spike in the oil price, due to tensions in the Gulf, reversing the recent fall in inflation, any of which could drive out pension fund deficits, according to the latest Pension Risk Tracker Index published today by Pension Insurance Corporation. 

Download accompanying slides here: Pension_Risk_Tracker_Index_Q1_2012.pdf

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Pension Corporation: Focussing quantitative easing would benefit pensioners

7th December 2011

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

7th November 2011

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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Pension Insurance Corporation insures Morris Ashby pensioners from PPF

5th September 2011

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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PIC insures ITB Closed Fund

30th August 2011

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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Pension Insurance Corporation insures Nova Chemicals UK Pension Plan

22nd August 2011

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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A European sovereign default could push out pension fund deficits by 40%

25th July 2011

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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Trustees aim to cut equities, increase contributions, utilise company assets

4th July 2011

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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Pension trustees plan on asking for significant contribution increases from their sponsor

20th June 2011

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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To discuss pension risk transfer solutions, please contact:

Mitul Magudia or Uzma Nazir
+44 20 7105 2000
enquiries [at] pensioncorporation [dot] com 

Pension Insurance Corporation Ltd 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. Terms and conditions

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