An insurance company is required to hold a higher buffer of assets than a pension scheme, meaning that for the duration of your life, funds will always be available to pay your pension. This is a commitment which PIC takes very seriously and we promise: 1. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). If this isn’t possible we will: If you are not happy with our response, or we have not responded within eight weeks you have the right to refer your complaint to the Financial Ombudsman Service, free of charge. Phone: 0845 601 2923Website: www.pensionsadvisoryservice.org.uk. Chief Executive Officer, Pension Insurance Corporation, To pay you the right benefits at the right time, To provide levels of financial security over and above those you received from your former pension scheme, To make sure that you receive the highest levels of administrative support available, Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture, Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly, Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale, Where consumers receive advice, the advice is suitable and takes account of their circumstances, Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect, Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint, The contact details depend on who administers the pension scheme that the policyholder belonged to. The role of these organisations is to ensure that that UK regulated insurance companies keep their policyholder’s security and best interests at the heart of their decision making. Pension Insurance Corporation purpose is to pay the pensions of our policyholders. If your pension scheme is still under Trustee administration, please contact your scheme administrator in the first instance. "We have become a leading insurer in our sector because our customers value innovative thinking, flexibility in delivery, high levels of customer service and our rigorous approach to pension risk management.". We are straightforward to deal with and do what we say we’ll do. so that we can talk you through the process and next steps. Pension Insurance Corporation stands for integrity and customer service in securing the risks associated with defined benefit pension funds in the UK. It’s usually best to call so that we can talk you through the process and next steps. Issue you with an acknowledgement letter summarising your complaint within five working days of receiving your complaint. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. Pension scheme is not administered by PIC: Please contact the administrators who are responsible for paying the policyholders pension. Adaptability – penguins have adapted to life under the waves or on land, in many different environments. We have tried to make the process of notifying us as easy as possible and to help you through the next steps. View our cookie policy. — The Pension Benefit Guaranty Corporation (PBGC) is taking responsibility for the J.C. Penney Corporation, Inc. Pension Plan, which covers about 36,000 … Since 2016, PIC has won a number of industry awards and accreditations for the quality of our work with policyholders, trustees and corporate sponsors and our approach to risk management. We are also agile, creating innovative, bespoke solutions to give our clients security and stability. View our cookie policy. Address: The Financial Ombudsman Service Exchange Tower London E14 9SR, Email: complaint.info@financial-ombudsman.org.uk Website: www.financial-ombudsman.org.uk. Our call handlers will make everything straightforward for you and will answer any questions you might have. Pension Insurance Corporation plc is registered in England and Wales under company number 05706720. The trustees of your scheme have decided that your best interests are served by agreeing to insure your benefits with us. Its registered office is … Pension Insurance Corporation insures defined benefit pension funds in the UK through pension insurance buyouts and buy-ins. By continuing to browse this website you are agreeing to our use of cookies. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). PIC is proud to hold a range of industry awards and accreditations. Secures pension benefits to the highest level, within the insurance regulatory framework; Removes risk from those companies responsible for defined benefit pension funds, increasing shareholder value; and, Recycles capital back into the economy, helping fund infrastructure projects. © Copyright 2020 Pension Insurance Corporation plc. For details on who administers the scheme please click, If we administer the pension, please contact us using the details below. At half year 2020, we had £47.7bn of assets and insured 237,600 pension fund members. We’re committed to managing risk and providing long-term stability and financial security for our customers; We go beyond existing ways of thinking to come up with innovative, personalised solutions and flexible ways to deliver them, Details for the policyholder’s spouse or partner (if they have one), Also details of any financial dependants (if they have any). By continuing to browse this website you are agreeing to our use of cookies. To provide levels of financial security over and above those you received from your former pension scheme3. PIC's values and culture, as central to our ethos when we were founded as they are today, help ensure that all our employees, from our interns to our Chairman, genuinely treat our customers as our first priority, whilst at the same time delivering strong performance for our shareholders. With years of training and a wealth of industry experience, San Diego Pension Consultants has become a recognized leader in retirement plan innovation. These are known as the ‘Treating Customers Fairly’ principles and govern how the FCA communicates with customers, the level of service it provides and the fairness of its products and procedures. Why has my pension scheme been insured by PIC? See our latest awards. Valuing our customers is at the heart of PIC's values, and central to everything we do. Its registered office is at 14 Cornhill, London EC3V 3ND. Losing a loved one is distressing, and we recognise it can be hard to focus on practical matters like pensions at such a difficult time. The trustees of your pension scheme may have approached other insurers but ultimately chose PIC as the insurance provider for your benefits. This website uses cookies. To log in to an event, please go to the Policyholder Lounge. Pension Insurance Corporation plc (PIC) provides tailored pension insurance buy-outs and buy-ins to the trustees and sponsors of UK-defined benefit pension funds.