Standard Life Enters Irish Pension Risk Transfer Market

  • New provider choice: Market entry expands options for defined benefit pension schemes in an estimated €65 billion market currently served by two active insurers.
  • Managing corporate risk: Gives sponsoring employers a clear path to transfer long-term pension liabilities.

DUBLIN, 27 OCTOBER: Standard Life has today announced its formal entry into the Ireland’s Pension Risk Transfer (PRT) market, bringing additional capacity and greater choice to defined benefit (DB) pension scheme trustees and sponsoring employers.

Ireland’s defined benefit pension market holds an estimated €65 billion in assets, but the number of insurers offering pension risk transfer solutions remains limited, particularly for schemes seeking to transfer both pensioner-only and deferred-member liabilities.  Standard Life’s arrival introduces a new alternative for trustees and sponsoring employers looking to transfer long-term pension risks while guaranteeing their employees' retirement incomes.

PRT allows a pension scheme to transfer its liabilities directly to an insurer. Standard Life is fully transaction-ready to write business covering both pensioner-only and deferred-member liabilities, enabling business owners and trustees to pursue comprehensive full-scheme buyouts.

The move combines Standard Life’s long-standing heritage in the Irish market with the financial strength, pricing capability, and execution expertise of the broader Standard Life Group.

Speaking on the market entry, Noelle Hawkshaw said:

Ireland’s defined benefit pension market is significant, but trustees and sponsoring employers have historically had a relatively small pool of insurers to choose from.

We believe Standard Life has a valuable contribution to make in this market, and we’re ready to play our part in meeting growing demand for pension risk transfer solutions. By confirming full transaction readiness across both pensioner and deferred liabilities from day one, we’re applying Standard Life's deep retirement expertise to deliver essential market capacity, competitive pricing, and execution certainty. We look forward to partnering closely with trustees, sponsoring employers, and corporate consultants as they map out their de-risking journeys.

- Noelle Hawkshaw, Head of BPA at Standard Life

Today’s announcement confirms Standard Life’s commitment and capability to execute PRT transactions immediately as market opportunities arise.

 

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