Post by Pension Insurance Corporation plc

We are pleased to announce that PIC has completed the buyout of all 36,000 members of the Rolls-Royce UK Pension Fund, just nine months after signing a £4.3 billion full buy-in with the Trustee. In order to achieve continuity of service, including the Trustee’s digitally focussed approach, PIC has appointed Brightwell as its administration partner. Brightwell has set up a new, dedicated office in Derby and the existing Rolls-Royce administration team, who were already based in Derby, have transferred to Brightwell to ensure that expertise is retained. Liz Airey, Chair of Trustees, Rolls-Royce UK Pension Fund, said: “This has been an exceptionally smooth transition process, a remarkable achievement given the size of the scheme and the complexity of moving the administration at the same time. I want to thank the whole team at PIC and Brightwell for their focus on the needs of the members. I have no doubt that we made the right choice and that the members will be exceptionally well looked after as PIC policyholders.” Read the full press release here: https://lnkd.in/ebdeCfra #PIC #purpose #policyholders #future Lance DeLuca, Mitul Magudia, Andy Rose, Peter Rennalls, Fiona Brown, James Pearson and Baggy Shanker MP

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