SEI Announces Strategic Partnership with Pension Insurance Corporation

LONDON, 17 Dec., 2024 – SEI^® (NASDAQ:SEIC) today announced a strategic partnership with Pension Insurance Corporation (PIC), a specialist UK insurer. SEI and PIC will enable trustees the means to transfer defined contribution (DC) pension benefits and additional voluntary contributions (AVC) into the SEI Master Trust in bulk as part of their buy-out arrangements.

As a result of this strategic partnership, defined benefit (DB) scheme members with DC and AVC arrangements will be able to access the SEI Master Trust, a market-leading master trust offering customised solutions and a complete member journey to guide members to retirement and beyond.

Commenting on the strategic partnership, Steve Charlton, Managing Director of Defined Contribution for SEI’s Institutional business in EMEA and Asia, said:

“I’m delighted to launch our strategic partnership with PIC, as we work together to deliver stability to members and help build their confidence that their financial futures are secure. In joining forces, I believe we have an opportunity to further our commitment to the institutional market and shape member outcomes for the better.”

Matt Richards, Head of Origination Structuring at PIC, added: 

“This new partnership between PIC and SEI allows the trustees of DB schemes looking to enter into a buyout the ability to offer their members improved outcomes. We are very pleased with the outcome and look forward to continuing to work closely with SEI on this exciting partnership.”

About SEI^®

SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help drive growth, make confident decisions, and protect futures. As of Sept. 30, SEI manages, advises, or administers approximately $1.6 trillion in assets. For more information, visit seic.com.

About the SEI Master Trust

The SEI Master Trust provides an end-to-end solution for employers delivering defined contribution (DC) schemes. An independently-assured DC provision, the SEI Master Trust encompasses investment management, member communications, and administration. SEI’s U.K. Institutional business was established 25 years ago. Overseen by more than 125 in-house investment experts—and with its global scale and 17-year track record as one of the first commercial U.K. master trusts—the SEI Master Trust offers customised solutions and a complete member journey, guiding members to and through retirement.

About Pension Insurance Corporation (PIC)

The purpose of PIC is to pay the pensions of its current and future policyholders. PIC provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. At half year 2024, PIC had insured 348,600 pension scheme members and had £47.7 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buy-ins to the trustees and sponsors of UK defined benefit pension schemes. At 30 June 2024, PIC had made total pension payments of £14.9 billion to its policyholders and had invested more than £13 billion in the UK economy, creating considerable social value. Clients include FTSE 100 companies, multinationals and the public sector. PIC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). For further information please visit www.pensioncorporation.com.