Investment - Articles - PIC announce their strategic partnership with SEI

 For the trustees of Defined Benefit (“DB”) schemes considering buyout this collaboration is important. It gives DB scheme members who also have DC pension arrangements and AVC’s the opportunity to access the SEI Master Trust, with its market-leading investment default fund and broad array of investment options, before entering the buyout arrangement.

 Traditionally, DB pension scheme members may look to exchange some of their guaranteed pension income in order to take a tax-free pension commencement lump sum as well as a lower guaranteed pension income.

 Founded in 1968, SEI is a global provider of solutions across investment processing, operations, and investment management. As of September 30, 2024, SEI manages, advises, or administers approximately US $1.6 trillion in assets. Employing approximately 5,000 employees, SEI is headquartered in Oaks, Pennsylvania, US, and has offices around the world, including London.

 Matt Richards, Head of Origination Structuring at PIC, said: “This new partnership between PIC and SEI allows the trustees of DB schemes looking to enter into a buyout the ability to offer their members improved outcomes. We are very pleased with the outcome and look forward to continuing to work closely with SEI on this exciting partnership.”

 Steve Charlton, SEI Managing Director, DC and Solutions, EMEA and Asia, said: “I’m delighted to launch our strategic partnership with PIC, as we work together to deliver stability to members and help build their confidence that their financial futures are secure. In joining forces I believe we have an opportunity to further our commitment to the institutional market and shape member outcomes for the better.”