 |
|
 |  |  |  |
The Pearson Pension Plan, a UK pension plan sponsored by Pearson plc, has purchased pensioner buy-in policies with both Aviva and Legal and General totalling £1.2bn. The buy-ins cover around two thirds of the pensioner liabilities and are split equally between the two insurers. |
LCP was appointed earlier in the year to advise the Trustee of the Plan on structuring and negotiating buy-in transactions to help reduce the Plan’s longevity risk. The Plan’s strong funding position has allowed the Trustee to follow a strategy of reducing risk by aligning investments more closely with the pension benefits needed to pay members. The buy-ins transfer significant longevity risk to Aviva and Legal and General, reducing the pension risks being underwritten by Pearson and providing additional security for the Plan Trustee and members. The buy-ins are held as investments of the Plan and members will see no change to how their pensions are provided. Commenting on LCPs involvement, Clive Wellsteed, partner at LCP and lead adviser to the Trustee, said: “The key advantage of an umbrella contract, as used by the Pearson Pension Plan, is the ability to complete future buy-ins quickly if pricing is competitive, building on the strong relationships and contract terms already in place with the insurers. "The Plan’s £1.2bn of buy-ins supplement the busy start to the year reported in our analysis of H1 transaction volumes at £5.1bn, and means that 2017 is well on track to exceed £10bn of transactions for the fourth year running." |
|
|
|
| Pricing actuary - part-qualified or q... | ||
| South East / hybrid 2-3 dpw office-based - Negotiable | ||
| Technical pricing and portfolio manag... | ||
| Remote / 1 dpm in the Paris office - Negotiable | ||
| Actuarial Pensions Analyst/Technician | ||
| Midlands / hybrid - Negotiable | ||
| Senior Consulting Actuary | ||
| Flex / hybrid 2 days p/w office-based - Negotiable | ||
| Specialty Pricing Expert - Cyber | ||
| London, 4dpw in the office - Negotiable | ||
| Take the lead in GI Reserving | ||
| London - Negotiable | ||
| Financial Risk Manager | ||
| South East / hybrid 3dpw in the office - Negotiable | ||
| Senior Consultant/Manager | ||
| London - £100,000 Per Annum | ||
| Portfolio Pricing Actuary – First Act... | ||
| London - £125,000 Per Annum | ||
| Divorce Actuary | ||
| Remote with option to go into the office if required - Negotiable | ||
| DB Pensions Actuary contract work ava... | ||
| Remote - Negotiable | ||
| Take the lead in GI Capital Modelling | ||
| London / hybrid 2 days p/w office-based - Negotiable | ||
| Pricing Actuary - Global Consultancy | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| Machine Learning Analyst | ||
| Remote with occasional days in the London office - Negotiable | ||
| CONTRACT: With-Profits Actuary | ||
| London/hybrid - Negotiable | ||
| Actuarial Associate Director - Life | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| Life Actuarial Trainee | ||
| South East / hybrid 3dpw office-based - Negotiable | ||
| Pensions Project Consultant | ||
| Any UK Office location / Hybrid working - Negotiable | ||
| Pensions Actuary - Fully Remote | ||
| Fully remote - Negotiable | ||
| From pensions to insurance - student ... | ||
| London / hybrid 2-3 dpw office-based - Negotiable | ||
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.
Copyright © 2025 Actuarial Post. Created by Zero-One Design Ltd
