About Pension Insurance Corporation
What is Pension Insurance Corporation?
Pension Insurance Corporation ("PIC") is a specialist UK insurer of defined benefit pension schemes. It takes on the pension promises companies have made to their staff — through buy-ins and buyouts agreed with scheme trustees — and then pays those pensions for the rest of members' lives. PIC states its purpose plainly: "to pay the pensions of our current and future policyholders." Reporting its 2025 results, PIC put its portfolio at £54.8 billion, total pensions insured at 438,000, pensions paid to date at more than £19 billion, and customer satisfaction at 99%. It is also a substantial long-term investor in the UK economy, with £15 billion placed in privately sourced UK assets including housing and infrastructure. In March 2026 the Athora Group completed its acquisition of PIC's parent company; PIC "will continue to operate under the PIC brand" as Athora's UK insurance business.
Where will I work?
London. PIC's head office is at 22 Ropemaker Street, EC2Y 9AR, and every vacancy currently on its careers board is a London role across actuarial, investments, finance, risk, technology and pension operations. PIC describes itself as "a forward-looking company with an open-door policy, flexible working and equal opportunities", but publishes no specific hybrid or office-attendance pattern, so that is worth raising at interview. Following the acquisition, London is where Athora and PIC together employ around 800 people.
What is the Pension Insurance Corporation team like?
Technical, credentialled and organised around one purpose. Roles are pitched at qualified professionals — actuaries, quantitative analysts, software engineers, internal auditors and defined benefit pensions specialists. PIC relaunched its values in 2023 as "resilient, adaptable and loyal", and says it has "short reporting lines and modern systems which allow us to react quickly to our customers' needs." Its own 2025 results report that 93% of employees are proud to work for PIC. An employee-led Diversity, Equity and Inclusion Forum runs alongside early-careers routes including the PIC Academy apprenticeship, which recruits "focused on potential, rather than academic achievement, and the programme is open to people from school leaver age and upwards."
Work-Life Balance
Every PIC job advert carries the same benefits line: joiners get "private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more." With UK bank holidays that is 36 days off a year. On top of leave, "everyone gets two days (fully paid) each year to volunteer wherever they want", and staff support charity partners Independent Age and Beyond through befriending calls and fundraising. Flexible working is offered; PIC publishes no reduced-hours or compressed-week policy.
Perks and Benefits
- Private medical insurance
- Generous company pension scheme
- Annual performance-related bonus plan
- Save as You Earn scheme to buy company shares
- CPD scheme: qualification funding and study leave