Pension Insurance Corporation (PIC) is a company with a clear purpose, a strong link to the creation of social value, and a culture that allows our employees to grow with the company and see the contribution they make to our success. PIC pays the pensions of hundreds of thousands of members and former members of UK defined benefit pension schemes.
We invest in long-term assets, like UK infrastructure and regeneration projects, to provide the very long-term cashflows we need to pay those pensions over the coming decades. These investments have the beneficial outcome of supporting jobs and apprenticeships, driving economic growth, and creating significant social value.
Our objective is to create long-term social value as we fulfil our purpose, leading to sustainable benefits for the economy, the environment and society. It gives our policyholders, employees, and others a sense of community and engagement as we continue to transition to a more green and sustainable way of working. There are four distinct pillars:
- Protecting the environment by transitioning to Net Zero, meeting our carbon commitments
and increasing the positive biodiversity impact of our real assets.
- Being a responsible investor by integrating ESG into our investment processes, active participation in ESG industry initiatives, as well as investing in Sustainable Assets and mapping the impact they create.
- Making communities sustainable, safe, and inclusive by investing across the UK in assets that provide essential services, helping turn brownfield assets into greener alternatives, providing local employment and skill development opportunities and providing financial and non-financial charity support.
- Long-term sustainable business by promoting a culture that is inclusive and diverse, providing detailed and transparent reporting, and ensuring long-term alignment of stakeholders.
We are proud to be an equal opportunity employer: we treat everyone equally, regardless of age, gender identity, race and ethnicity, disability, neurodiversity, sexual orientation or religion. Our DEI activity is incorporated into our hiring process and the makeup of our organisation.
PIC supports several DEI initiatives through corporate sponsorship including Social Capital
Network, the Actuarial Mentoring Programme (AMP), LGBT Great, GAIN (Girls Are INvestors), the 10000 Interns Foundation and Women In Banking & Finance, which provides female colleagues, at all levels, with access to development and networking opportunities, and the business with channels to recruit more female talent. We have a PIC Women’s Network and a dedicated Diversity, Equity and Inclusion Forum, which is comprised of employees from across the business.
Our gender pay gap figure of 11.4% is below the financial services indicative average of 22.7%. PIC recruited approximately 146 new joiners since 2022 and of these, 43% were women.
Outside of our day-to-day roles, our people enjoy a variety of events throughout the year which
bring us altogether, including: sports teams, including netball and football, monthly Town Halls, our famous annual Treasure Hunt, our summer PICnic, tyPICal Days, and charity fundraisers e.g. End of Summer Party, annual quizzes. The notions of making a difference and giving back are a key part of life here at PIC.
Our two main charity partners are Independent Age and Rethink Mental Illness with various events occurring throughout the year such as half marathons. We encourage our people to participate by offering two days’ volunteer leave per year and also match charitable fundraising.
Depending on your role, what you need and what the business needs, we may support you in gaining a professional qualification. Our dedicated Learning & Development team is here to support you, creating learning environments where you can continuously develop to reach your potential and meet your career goals. Learning is about much more than just attending courses, and includes classroom training, virtual training, digital training, coaching, mentoring, and knowledge sharing events. During 2023, we were delighted to be awarded Investors in People Silver Award.
Workplace Initiatives
- Programme for parents returning to work after Parental Leave? Yes
- Leadership development programmes? Yes
- Mentoring programmes? Yes
- Coaching programmes? Yes
- Employee-led diversity networks? Yes
- Internal women’s networking groups? Yes
- Open to discussing flexible work arrangements at interview stage? Yes
