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The Actuary The magazine of the Institute & Faculty of Actuaries

Swan Hill scheme is first win for Pension Insurance Corporation

Pension Insurance Corporation (PIC), the insurance arm of Pension Corporation, has won the mandate to secure the benefits of the Swan Hill Pension Scheme. The £75m transaction is the first for PIC.

James Hyslop, chairman of Swan Hill Pension Scheme Trustees, commented: “The trustees are pleased to be able to announce that we have secured our members’ benefits with PIC. In addition to the security provided by a Financial-Services-Authorityauthorised insurance company, PIC has demonstrated a real focus on looking after our members through its prudent and cautious approach to managing pension scheme assets and liabilities.”