The pension risk transfer market is expanding rapidly due to economic uncertainty, rising retirements as America hits “Peak 65,” and improved DB funding levels from higher interest rates. Many sponsors now see opportunities to divest liabilities, while insurers benefit from large asset pools to manage. In 2022, PRT sales hit $52 billion, with record growth continuing in 2023. Challenges include infrastructure, administration, and scalability, driving insurers to outsource to partners like Conduent. Partnerships enable faster implementations, data cleanup, participant support, and strategic communications, reducing risk for sponsors and ensuring beneficiaries more predictable retirement income.

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