View more on these topics

Pension Insurance Corporation insures Warwick pension scheme

Pension Insurance Corporation has announced a buy-in agreement with the trustees of the Warwick International Group Pension Scheme.

The agreement will see Pension Insurance Corporation, the insurance solution provider, insure members’ benefits within the Warwick scheme.

The transaction, which relates to retired pensioners only, means that the insurance policy will be held as an asset by the Warwick and will offset liabilities.

The pensioners remain members of the scheme, and PIC will eventually take over responsibility for the administration of these pensions.

Warwick International Group finance director Steve Williams says: “This insurance contract represents the best outcome at this point for the members of the pension scheme. It adds a new level of security to members’ benefits by reducing the scheme’s exposure to risk.”


OECD sees signs of recovery

The recession in the developed world is showing signs of bottoming out, according to the latest indicators from the Organisation for Economic Co-Operation and Development (OECD).Although the signals remain tentative, the OECD says its composite leading indicators (CLIs) for April show that most of the OECD economies have hit the bottom.The indicators were particularly obvious […]

Abbey shock for drawdown clients

Abbey has written to 8,000 flexible mortgage account holders to tell them their drawdown funds are being slashed. Within the details of Abbey’s flexible account mortgage, the lender can revalue a property quarterly and readjust the drawdown facility. If it deems that a house has lost value, it can reduce the available funds’ pot in the offset loan, regardless of what has been invested by the borrower.


News and expert analysis straight to your inbox

Sign up


    Leave a comment