LCP in the Press 2010

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Winds of change - Martin Slack, senior partner at Lane Clark & Peacock predicts 2010 will see an acceleration of employers moving to transfer more, if not all, of the future service risk of pension provision to employees. Longevity swaps will struggle to break through as an attractive risk mitigation solution and there will be only a modest pick up in the buy-in business. There will be more employers having to face up to pension scheme deficits that threaten the survival of their business and recovery periods will inevitably increase. Average levels of defined contributions (DC) will remain well below that needed to provide a decent retirement income. The new government will do too little to encourage private pension provision, but we will only have one change of pensions minister. My predictions for 2011 may be a little more positive! Pensions World, 01 January 2010