UK Pension Providers Announce Buyout Deal

June 5, 2008 ( - UK pension provider Pension Corporation announced Pension Insurance Corporation (PIC) has been selected to secure specified benefits of the Delta Pension Plan as part of an asset buyout deal.

A news release said PIC will receive £451 million in pension assets, which brings PIC’s total pension buyout assets to more than £500 million.

“This announcement with the Delta Pension Plan highlights Pension Corporation’s commitment to providing secure and responsible pension management to defined benefit funds and being the insurance solution of choice for pension fund members,” said Edmund Truell, Chief Executive of Pension Corporation, in the announcement. “The further development of our insurance buyout business is another important step in being able to offer a complete range of specialist pension solutions to defined benefit funds of any size or financial strength.”

More information is at .