What is Pension Risk Transfer (PRT)?
Pension Risk Transfer is a transaction that allows a defined benefit plan sponsor to mitigate risk and improve benefit security for plan members by transferring all or a portion of the plan to an insurance company. PRT is especially beneficial in helping plan sponsors manage market volatility and changing economic conditions.
PRT transactions enable companies to focus on what they do best - run their business and serve their customers. These transactions help simplify a company’s administrative processes, streamline backend operations and ensure a greater level of oversight and transparency in managing pension obligations.
What sets LGRA apart
- Global presence
Our parent company, Legal & General Group ("Group"), is a financially strong UK-listed FTSE 100 group, established in 1836. The Group is one of the world’s largest insurance and investment management groups and looks after the financial security of millions of customers worldwide.
Legal & General is a specialist in the PRT market with a global PRT portfolio of $101 billion and over 30 years of experience. We are uniquely positioned to write global PRT business and completed our first global transaction across the US and UK
- Service excellence
Customer service is core to us. Our approach to client service and PRT administration has been continuously refined for nearly four decades spanning over one million annuitants.
All administrative functions are performed in-house within the US, which allows us to be nimble and highly responsive to the unique needs of our clients. As of 6/30/20, we had an average call center rating was 4.95 out of 5 stars and an NPS score of 75.
- Partnership oriented
We pride ourselves on our willingness and ability to offer solutions that best meet the unique needs of our clients and are happy to consider any requests or suggestions.
We partner with the sponsor and intermediary each step of the way; from the RFP process through implementation and into annuitant servicing.
- US experience
We have successfully brought our integrated asset management strength, longevity expertise and a track record of effective execution to the US.
Products We Offer
We offer customized solutions to meet the needs of our pension clients.
Our capabilities include:
- Pension buyouts and buy-ins
- Retiree and deferred participants, including full plan terminations and complex plan provisions
- General Account and Separate Account offerings
Read Legal & General Group CEO Nigel Wilson's article in CFO.com on the different types of Pension Risk Transfer transactions.