Media Contact:

Retirement
Josh Stoffregen / 973-802-3996 / josh.stoffregen@prudential.com

May 09, 2018

Hawaii renews agreement with Prudential Retirement to manage $2.4 billion plan

NEWARK, N.J., May 09, 2018 - State of Hawaii officials informed Prudential Retirement that Hawaii has renewed its contract with Prudential to oversee its State of Hawaii Deferred Compensation Plan (a.k.a., The Island $avings Plan) totaling nearly $2.4 billion in retirement assets. Prudential Retirement, among the industry’s largest recordkeepers, is a business unit of Prudential Financial, Inc. (NYSE:PRU).

May 09, 2018

Prudential and PIC reach sixth longevity reinsurance agreement amid surging demand for pension de-risking

NEWARK, N.J., May 09, 2018 - Prudential Retirement, a unit of Prudential Financial, Inc. (NYSE: PRU), and Pension Insurance Corporation plc (PIC), have struck their sixth longevity reinsurance transaction since 2015. The Prudential Insurance Company of America (PICA) assumes the longevity risk for £900 million (about $1.2 billion) in pension liabilities, representing approximately 7,500 pensioners across two pension schemes.

May 07, 2018

Financial wellness program popularity rises among employers, up 63 percentage points in two years

Growing awareness of how financial wellness programs benefit employees has driven rapid growth in plan adoption among employers. Now, they say big data could help measure results, customize programs and fill remaining gaps, according to a survey from Prudential’s Workplace Solutions Group, a business unit of Prudential Financial, Inc. (NYSE: PRU).

April 02, 2018

Prudential offers Guaranteed Income For Tomorrow (GIFT)SM

NEWARK, N.J., April 2, 2018 – Increasing longevity has made outliving assets in retirement a concern for many Americans, with 67 percent of U.S. workers saying they fear their retirement savings won’t last, according to a 2016 Prudential report. To help Americans supplement their retirement savings, Prudential Financial, Inc. (NYSE: PRU) has introduced its first online income product, a voluntary deferred income annuity designed to generate guaranteed lifetime income.

November 09, 2017

Prudential, PIC Reach $1.2 Billion Longevity Reinsurance Agreement

NEWARK, N.J., Nov. 09, 2017 - Prudential Retirement, a unit of Prudential Financial, Inc. (NYSE:PRU), and Pension Insurance Corporation (PIC), have entered into their fifth longevity reinsurance transaction since 2015. In the agreement, The Prudential Insurance Company of America assumes the longevity risk for $1.2 billion (about £900 million) in pension liabilities, covering approximately 4,000 pensioners across four pension schemes.

October 02, 2017

Prudential Entrusted with Pension Promises to Approximately 45,000 International Paper Retirees

NEWARK, N.J., Oct. 02, 2017 - International Paper (NYSE:IP) will settle approximately $1.3 billion of its pension obligations by purchasing a group annuity contract from The Prudential Insurance Company of America (NYSE: PRU), a leader in retirement benefits. The agreement transfers to Prudential the responsibility for paying pension benefits to roughly 45,000 of International Paper’s retirees and their beneficiaries.

September 22, 2017

For Asia’s rapidly aging populations, innovation and forward-thinking policies drive retirement security

TAIPEI, Taiwan, September 22, 2017 - The quickening pace of aging in Asia – a region with more than half the world’s population over 60 – has urgent implications for the region’s families, retirees, pensions and policy makers.

September 14, 2017

MMC UK Pension Fund, advised by Mercer, selects Prudential and Canada Life Reinsurance to reinsure the longevity risk of £3.4 Billion ($4.3 billion) in pension liabilities

The Trustee of the MMC UK Pension Fund (the “Fund”) has announced the largest longevity risk transfer for a UK pension fund since 2014. The transaction, which reinsures the longevity risk of £3.4 billion ($4.3 billion) in pension liabilities, will provide long-term protection and income to the Fund in the event that the covered participants live longer than expected. It also lowers the risk that Marsh & McLennan Companies will face unexpected pension contributions due to an increase in pensioner life expectancy.

August 30, 2017

Gig economy may threaten financial wellness of contract workers, Prudential survey shows

NEWARK, N.J., Aug. 30, 2017 - The gig economy — the increasingly popular employment model where people work as independent contractors rather than employees of companies — has a destabilizing effect on personal financial security, a Prudential Financial, Inc. (NYSE: PRU) survey shows.

August 15, 2017

Finance chiefs’ pension risk transfer motivations revealed in new research

NEWARK, N.J., Aug. 15, 2017 - The increasing costs and volatility of managing defined benefit pension plans have long been at the center of the motivations for transferring a company’s pension risk to an insurer. But which costs and what kinds of volatility are finance chiefs most concerned about? A new survey involving 80 senior finance executives at companies with traditional pensions sheds light on the motivations behind pension risk transfer decisions in the executive suite.