Safety first
You may not have heard of pension insurance before, but it means you are in safe hands. Regulators hold insurers like us to the highest standards, making sure we always have enough money to pay pensions.
We are regulated by the Prudential Regulatory Authority (PRA) and Financial Conduct Authority (FCA) who supervise insurance companies to ensure policyholders are protected and companies are working in their best interests.
A cautious approach
We focus on low-risk, long-term investments to match our pension liabilities, giving comfort that we can pay pensions in any economic environment.
Taking a cautious approach also means we manage risk effectively across all areas of our business. This creates an environment where everyone takes responsibility for the long-term security of your pension.
Ways pension schemes de-risk
A buy-in is where an insurer assumes a portion of the scheme liabilities in return for a premium, but the scheme remains in place. This enables the pension scheme to reduce exposure to investment risks and the cost of people living longer than expected.
A buyout is where all liabilities transfer from the pension scheme to an insurer. This achieves three important things for the company responsible for the pension scheme:
- It enables the company to settle its pension liabilities and to wind up the scheme.
- It removes the pension liabilities from the company balance sheet.
- It allows the company to focus on its core business, no longer having to worry about the costs and liabilities of a pension scheme.
The insurance company takes over the administration of the pension and has experts to manage this every single day to ensure the safety of the pensions insured.
Both are great options for pension schemes and their members - whichever a scheme chooses.
A service model designed around you
We put policyholders at the heart of everything we do.
Our ringfenced, fully UK-based administration team will answer any queries you have - or you can self-serve using our first-class website.
We’ve partnered with XPS (Home | XPS Group), an award-winning administrator, who shares our passion for doing things differently. XPS is accredited by PASA, the industry benchmark for pension administration standards, and has market-leading technology and cyber security in place.
We have a listen-and-learn culture and want to hear from you about any improvements you think we should make. We offer many opportunities to provide feedback through surveys, but we also have a customer testing panel you could join to help shape the future of our service.
