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LCP in the Press 2005

Year: 2010 2009 2008 2007 2006 2005 2004 2003

BAE in £3bn pension plug to avoid paying state fund - According to LCP, the collective pension deficit of Footsie companies is currently around £37b. Edinburgh Evening News, 23 December 2005

Council tax set to soar to plug LGPS blackhole - Analysis of the actuarial valuations of 52 of the 86 local government funds by LCP found that council tax would rise by an average of 5% a year over inflation in a bid to meet a deficit they calculated at £28bn. Professional Pensions, 22 December 2005

Deficit threat to three big pension schemes - Catering group Compass, recently ranked 96th of all the FTSE 100 companies by LCP for its pension funding levels, has also drawn up plans to cut the benefits paid to members of its final salary pension schemes. Evening Standard, 22 December 2005

Pension fears as firm closes plan - Unilever is listed in figures from LCP as having a deficit of £2.81bn. Hull Daily Mail, 21 December 2005

Is your pension next for the axe? - LCP partner Bob Scott said: "Rentokil may be the first [to close its DB scheme to existing workers] but it is very unlikely to be the last major company to do this." Daily Mail, 21 December 2005

Rentokil chiefs move to scrap staff's final salary scheme - LCP partner Bob Scott said: "Rentokil is very unlikely to be the last major company to do this." Daily Mirror, 21 December 2005

Rentokil scraps final salary pensions and unions fear other firms will follow - LCP partner Jeremy Dell said: "There are plenty of companies that are currently going through, or strongly considering going through, this process of closing their defined benefit scheme to future accrual." The Guardian, 21 December 2005

Unions promise to fight dilution of pension rights - LCP partner Bob Scott said: "I think every company with a final salary scheme will be asking themselves 'can we do this?' It's on everyone's mind at the moment." The Times, 21 December 2005

Rentokil pensions blow to current staff - In a recent FTSE 100 pension scheme funding survey, LCP rated Rentokil fourth from the bottom. Evening Standard, 20 December 2005

Big firms will follow Rentokil on pensions - LCP partner Bob Scott said: "Rentokil may be the first, but it is very unlikely to be the last major company to do this." Evening Standard, 20 December 2005

More firms seen copying Rentokil's pension move - LCP partner Bob Scott said: "A high proportion of companies will have looked at their pension scheme and thought 'Can we stop these for future service?'" Reuters, 20 December 2005

Possible conucil tax hike to recoup £28bn pensions loss - LCP partner Tim Sharples said: "With forecasts suggesting that council taxes would have to rise next year by about 10% to cover existing services, this situation will become a political hot potato." Global Pensions, 19 December 2005

Pension schemes slapped with £575m PPF bill - LCP partner Martin Slack said: "Twice as much as parliament was led to believe would be required, but perhaps only half of what may actually be needed. Where will the other half come from?" Global Pensions, 19 December 2005

Higher Pension Levy to Hit Firms - LCP partner Martin Slack said: "Twice as much as parliament was led to believe would be required, but perhaps only half of what may actually be needed. Where will the other half come from?" Press Association, 19 December 2005

PPF levy proposals get mixed reaction - LCP complained that the levy was "twice as much as parliament was lead to believe would be reequired, but perhaps only half of what may actually be needed. Where will the other half come from?" Investment & Pensions Europe, 17 December 2005

PPF denies it has set scheme levy too low - LCP partner Martin Slack commented: "Together with the Scheme Funding Code of Practice, this helps to give greater security for members' accrued benefits, but the additional costs will inevitably accelerate the closure of DB plans." Citywire, 16 December 2005

Insurers to fight payments ruling - LCP partner Joe Monk said: "Such a decision could have an impact on claims reserves, particularly historic claims." Insurance Times, 15 December 2005

Multinationals hit by pension rules - A stringent new set of pension funding guidelines could force the foreign parents of UK companies to pay back pension deficits more quickly, putting pressure on their cash flow and dividend policies, according to LCP. Daily Telegraph, 13 December 2005

HBOS promises to plug £1.8bn pension deficit - According to LCP, at one end of the spectrum Lloyds TSB is running a pension fund deficit at £3.2bn while Alliance & Leicester has a hole of just £65m. Pensions Week, 12 December 2005

Pensions regulator nationalises M&A - LCP partner David Lane said: "Pension funds have become a key issue for dealmakers. Pensions can be a huge structural issue at the core of any negotiations." Accountancy Age, 08 December 2005

Getting fit for service - LCP partner Bob Scott said: "Although the regulator has said trustees are not meant to be experts, I think some trustees are having difficulty understanding just how far they are meant to go." Professional Pensions, 08 December 2005

LCP partner Joe Monk said: "When the question was first raised as to whether the annuity market would exist, five years ago, the government confidently predicted that it would, although that hasn't happened." Post Magazine & Insurance Week, 08 December 2005

HBOS pledges to plug £1.8bn pension hole - LCP partner Bob Scott said, unlike other companies taking steps to close their pension fund deficits HBOS was not requiring members of the scheme to increase their contributions. The Guardian, 07 December 2005

Year in focus: 2000 - A LCP survey revealed that DC schemes were proving highly unpopular. Professional Pensions, 02 December 2005

Year in focus: 2003 - In August the cumulative pensions deficit of FTSE 100 companies had grown to £100bn, according to LCP. Professional Pensions, 02 December 2005

Pensions timebomb ticks away - Many final salary pension schemes face huge deficits, with LCP estimating FTSE100 firms with final salary schemes collectively face shortfalls of around £37bn. Blackpool Evening Gazette, 01 December 2005

Regulator's traffic lights leave many seeing red - LCP partner Aaron Punwani commented: "A company sponsoring a scheme with £500m of assets may be more inclined to set the funding target at £600m and pay £10m a year for 10 years, than to set the target more prudently at £700m and pay £10m a year for 20 years. Yet the latter would have given better long-term benefit security to members." Pensions Management, 01 December 2005

A-Day made easy - LCP partner Jeremy Dell says: "Schemes will change whether trustees like it or not. They won't be able to sit back and ignore A-Day." Engaged Investor, 01 December 2005

LCP strengthens its management team by appointing Richard Thorby as managing partner. Pensions World, 01 December 2005

Regulator invites industry comment - LCP partner Aaron Punwani said: "The existence of the triggers could in some cases result in less prudent funding decisions." Employee Benefits, 01 December 2005

Watertight agenda - LCP partner Bob Scott asked whether compulsion was at the heart of the Commission's brief, but the Minister refised tp be drawn. Pensions World, 01 December 2005

LCP has promoted Chris Helyar and James Hughes to partners. Actuary, 01 December 2005

Preparing for A-Day: action for trustees and employers - Pensions Mentor has been developed jointly by LCP and Anthony Hodges Consulting. Occupational Pensions, 01 December 2005

UK self-employed seen left in limbo by pension proposals - LCP partner Martin Slack said: "More and more people are going into self-employment, often working at home, often low paid and usually with no pension. Finding some way to encourage them would have been good news." Reuters, 30 November 2005

Rise and fall of the pension plan - Many final salary pension schemes face huge deficits, with LCP estimating that FTSE 100 companies with final salary schemes collectively face shortfalls of about £37bn. Cambridge Evening News, 30 November 2005

Blair May Raise U.K. Retirement Age, Risking Fight With Unions - LCP partner Martin Slack said: "There is a risk the government will find it all too difficult and nothing will happen." Bloomberg, 29 November 2005

Hutton hides clues to future policy behind Treasury's door - LCP partner Bob Scott says: "No mention of compulsory employer contributons; an oblique reference to people working longer, but nothing to substantiate rumours that the government is to propose a retirement age of 67. Unfortunately, Hutton's speech gave no clues as to how the government plans to incentivise employers to provide good workplace pension schemes in the future." Pensions Week, 28 November 2005

With £1bn bill on the way, business frets for whom the levy breaks - LCP partner Martin Slack says: "It will be terribly embarassing for the Government if the PPF levy bill is materially more than £300m. But then, if the Government caps what the PPF collects, that could be a big issue politically, too." The Independent on Sunday, 27 November 2005

PPF slashes pensions of early retireers by 90% - A recent report by LCP flagged the pension schemes of BAE Systems, British Airways, BT, Corus, Excel, Rolls-Royce and Royal & Sun Alliance as being at risk of collapse should the stock market fall, because of the size of their deficit and high exposure to equities. The Sunday Telegraph, 27 November 2005

UK bosses paid luxury pensions, say unions - LCP partner Martin Slack said he was surprised directors benefits were still generous as he had expected them to have drifted lower in recent years. Business Day South Africa, 25 November 2005

Bosses enjoy luxury pensions - LCP partner Martin Slack said: "In the end, pensions are part of the remuneration package and directors are in a better position to negotiate better arrangements." Reuters, 24 November 2005

LCP has strengthened its senior management team with the appointment of Richard Thorby as managing partner. Professional Pensions, 24 November 2005

BAE in £3bn pension plug to avoid paying state fund - According to LCP, the collective pension deficit of Footsie companies is currently around £37b. Edinburgh Evening News, 23 November 2005

Helyar and Hughes made partners at LCP. Pensions Week, 21 November 2005

Pension savers short-changed by £7bn a year - LCP partner Bob Scott said: "Annuity rates and commutation rates have moved way out of line and this needs to be addressed. We are writing to all our pension-scheme clients to highlight the issue and I think that most will look to change their commutation rates to coincide with A-Day on April 6 next year. Rates of 16 to 18 might be more fair." The Sunday Times, 20 November 2005

Education for the DC generation - LCP partner Charl Cronje said: "I've been trying to determine the reasons for the low take-up of DC plan memebership. The reasons cited by employers were lack of interest among younger employees; the increasing consumer culture which has increased borrowing and reduced savings of all kinds; poor publicity regarding pensions in the press; and general confusion about how pensions work." Pensions Week, 07 November 2005

UK regulator has finger on trigger - LCP partner Aaron Punwani said: "The nature of the triggers appears to introduce a new Minimum Funding Requirement by the back door, namely 70-80% of the full buy-out level. This is despite all the rhetoric about the new funding standard being scheme-specific." European Pension News, 07 November 2005

Warning on buy-out offers for pensions - LCP partner Bob Scott said: "If you offered a 25-year-old £5,000 cash in hand they would be only too willing to accept. On the surface, everyone is a winner." Financial Times, 05 November 2005

Experts warn firms will struggle to fund final salary pensions - LCP partner Aaron Punwani said: "Overall, it is a positive step that the regulator has declared its hand by defining triggers determining whether it will take an interest in the funding of individual pension schemes. However, the nature of the triggers apears to introduce a new Minimum Funidng Requirement by the back door, namely 70-80% of the full buy-out level." Yorkshire Post, 05 November 2005

Pension rules coudl drive firms to the wall - LCP partner Aaron Punwani said: "Overall, it is a positive step that the regulator has declared its hand by defining triggers determining whether it will take an interest in the funding of individual pension schemes. However, the nature of the triggers apears to introduce a new Minimum Funidng Requirement by the back door, namely 70-80% of the full buy-out level." Scotsman, 05 November 2005

TPR bringing in minimum funding via the back door - LCP partner Aaron Punwani commented: "This is despite all the rhetoric about the new funding standard being scheme-specific. Also, the existence of the triggers could, in some cases, result in less prudent funding decisions." Professional Pensions, 03 November 2005

Rules mean schmes deliberately underfunded - LCP partner Alex Waite said: "Many of my clients did put money in during the 1980s and 1990s but once it was in, it was trapped and the governmeny wouldn't let them take it out. They are reluctant to have that happen again." Professional Pensions, 03 November 2005

Pensions regulator opts for caution in telecoms sell-off - LCP partner Michael Berg says: "The overall amount potentially available to the [Marconi] pension fund is more than five times the level of the FRS17 deficit." Finance Week, 02 November 2005

PPF plays fair with levy adjustments that take contributions into account - LCP partner Aaron Punwani says: "Our experience suggests that the Dun and Bradstreet failure score for assessing employer insolvency risk can be highly volatile and heavily influenced by matters such as county court judgments on bill payments, which often have no relevance to a company's likelyhood of failing over the next year." Pensions Management, 01 November 2005

A storm over cat bonds - LCP partner James Orr said: "One strength of cat bonds is they are collaterilised in advance, with funds paid over by investors and held by a special purpose vehicle, with the purpose of responding to a pre-defined event. This should give the protected party greater confidence in their risk transfer arrangements." Hedge Fund Manager, 01 November 2005

LCP nominated as pension fund administrator of the year. Global Pensions, 01 November 2005

A false sense of security - LCP partner Alex Waite said: "Should a company wish to walk away from its UK pension fund then it would become liable to top up its assets to meet the cost of securing the benefits in full with an insurance company. This is significantly more than the FRS 17 liability disclosed in company accounts. Under this assumption, we estimate the total shortfall for the FTSE 100 companies to be more than £150 billion." Credit Magazine, 01 November 2005

PPF makes concessions on risk-based levy - LCP expresses concern about using Dun & Bradstreet for measuring the insolvency risk of employers. Occupational Pensions, 01 November 2005

Treasury's revised eligibility rules to allow more pension providers - LCP has pointed out that the delay means that unregulated providers will have 12 months in which they could offer unregulated investments. Occupational Pensions, 01 November 2005

Pensions Regulator to provide e-learning for trustees - The technical input for the course is being provided by LCP. Occupational Pensions, 01 November 2005

The pension fund view - LCP partner Ken Willis says: "The growing interest for investing in property has been driven in part by the general desire for greater diversification, given the volatility of equity returns over recent years, but also by strong property returns. With consistent positive returns for more than ten years, returns compared to other asset classes and are looking to increase their overall exposure." Pensions Age, 01 November 2005

The ongoing effects of a changing world - LCP partner Ken Willis said: "REITs may have an important impact on the property market as, due to the tax-efficient nature of these vehicles, many property investment companies will convert their portfolios into REITs. Investors are also likely to be attracted by the better liquidity of REITs and this may increase the demand for property further." Pensions Age, 01 November 2005

Firms obliged to plug scheme deficits before selling off assets - LCP partner Michael Berg said: "The Marconi pensions situation underlines the fact that the deficits disclosed in company accounts cannot simply be taken at face value in assessing the impact of a pension scheme on the value of a business. It is a major wake-up call to anyone who felt they could just fund their scheme to FRS17 and leave it at that." Pensions Week, 31 October 2005

Pensioners first, shareholders last - LCP partner Michael Berg said: "The Marconi pensions situation underlines the fact that the deficits disclosed in company accounts cannot simply be taken at face value in assessing the impact of a pension scheme on the value of a business. Much higher cash funding requirements can be imposed in the event of structural change in the business." The Sunday Telegraph, 30 October 2005

Marconi's fall from grace hints at pensions 'iceberg' - "The Marconi pensions situation underlines the fact that the FRS17 deficits disclosed in company accounts cannot simply be taken at fac value in assessing teh impact of a pension scheme on the value of the business,"said Michael Berg, partner at actuarial consultants Lane Clark & Peacock. Financial Times, 29 October 2005

Wary trustees slowing down transactions - LCP partner Alex Waite said: "Corporate transactions are bing slowed down and sometimes stopped altogether due to the pension scheme." Professional Pensions, 27 October 2005

From sin stocks to the modern ethical investor - LCP partner Paul Black said: "People thought in the past that SRI would produce poor performance; but there is no evidence of that." European Pension News, 24 October 2005

Too generous benefit levels must drop in future - LCP partner Aaron Punwani added: "One of the things the PPF board has said is that they will work out the theoretical levies and then scale it up or down to reflect the amount of money they wish to collect in total." Professional Pensions, 20 October 2005

WH Smith pension change could be another flash in the pan - LCP consultant Adam Michaels said: "Liability funds are a current trend. Any potential buyer will be more interested in a company that has taken the risk out of its pension scheme." Finance Week, 19 October 2005

All business should be vetted - According to LCP, not all growth is good for buisness and consultancies should vet potential customers for suitability. LCP Partner Jeremy Dell commented: "We obviously need to make sure when we choose opportunities that we are best placed to look after them. LCP has always been choosy." Pensions Week, 17 October 2005

Industry remains concerned over insolvency measures - LCP partner Aaron Punwani said: "The PPF's update is encouraging but one big thing we want to know is about the way insolvency risk will be measured." Pensions Week, 17 October 2005

Changes to UK PPF levy broadly welcomed - While welcoming the move, Lane Clark & Peacock said it does not address the use of the Dun and Bradstreet Failure Score for assessing employer insolvency risk. “Our experience suggests that this measure can be highly volatile and heavily influenced by matters such as county court judgments on bill payments, which often have no relevance to a company's likelihood of failing over the next year," it said. www.ipe.com, 14 October 2005

Can we trust the pension promises? - LCP calculated that the FTSE 100 companies held assets of £88 for each £100 of pensions liabilities, based on the relatively realistic FRS17 accounting standard. Financial Times, 08 October 2005

Consultants agree to new contract talks after Harney move on insurance cover - The independent review into the effectiveness of IHCA's caps on indemnity cover has been carried out by LCP. Irish Times, 08 October 2005

No option on opinions - According to a report released by British based actuarial firm Lane Clark & Peacock, the requirement for companies to exepense options under International Financial Reporting Standards (IFRS) could hit profits of the UK's top 100 listed companies by more than £1bn. Accounting & Business, 01 October 2005

Transparency in Pensions - Bob Scott, partner at actuarial outfit Lane Clark & Peacock (LCP), says: "Pension fund deficits continue to have a major impact on the way FTSE100 companies operate. Those companies with significant FRS17 deficits on their balance sheets may well find themselves restricted in terms of the dividens they are able to pay to shareholders and the capital they can raise for refinancing. Pension deficits will also play a significant role in merger and acquisitions activity and are already curtailing potential deals." Accounting & Business, 01 October 2005

Global Pensions Awards 2006 - LCP nominated for Pension Fund Administrator of the Year. Global Pensions, 01 October 2005

Pensions deficit of UK's largest firms total £37bn, according to LCP. Engaged Investor, 01 October 2005

Contracting out rebate "too low" - Martin Slack, senior partner at Lane Clark & Peacock, said the consultation amounted to a "neat balancing act" for the Treasury: "Employers will find little comfort in the proposals. Their rebate and hence the Exchequer's costs, would be virtually unaltered. Actuaries have been advising that the current rebate results in a financial loss through contracting out. Five more years of an inadequate rebate at a time when employers are looking to reduce cost may become too much to bear." Pensions Age, 01 October 2005

Cross-border call - Tim Sharples, partner at Lane Clark & Peacock, said the cross-border regulations could have serious implications for UK companies with employees based overseas: "We feel that in their current form these regulations are over-stringent and not the intention of teh EU Pensions Directive. If a scheme has just one employee based in another EU member state for more than 12 months, it will be deemed cross-border." Pensions Age, 01 October 2005

Comment - Chris Tavener, a partner at Lane Clark & Peacock,p arguse that although companies have been making record pension contributions, deficits remain stubbornly high with the result that companies face pressure to pay larger contributions which will only increase when statutory funding legislation is introduced. IDS Pensions Bulletin, 01 October 2005

...while pension scheme deficits of UK FTSE 100 companies remain high at £37bn - Despite an increase in contributions by three quarters of FTSE 100 companies, the combined FRS17 deficits of their UK pension schemes remain high at £37bn, according to the annual Accounting for Pensions survey by actuarial consultants Lane Clark & Peacock LLP (LCP). Treasury Management International, 01 October 2005

Pension funds swoop on swaps - The latest figures from LCP show that European pension fund deficits are growing and that funding shortfalls for the UK's top 100 companies are topping £37bn. Credit Magazine, 01 October 2005

Reporting alteration threatens to wipe £1bn from FTSE 100's profits - LCP partner Charl Cronje said: "Because companies have had the opportunity to reflect the expected effect of adopting IFRS2 on share prices, I don't think it's going to be a major shock. But we'll have to wait and see." Financial Management, 01 October 2005

New e-learning in pensions - LCP are providing advice to the Regulator. Employee Benefits, 01 October 2005

A little can mean a lot - LCP have claimed that over 20% of UK blue chip companies had increased their reported earnings simply by making generous and optimistic assumptions about the expected equity returns for pension fund assets. Chartered Secretary, 01 October 2005

Busy bees - LCP partner Jeremy Dell says: "The costs of complying with A Day are small for many employers, especially those with a predominance of low earners." Pensions World, 01 October 2005

People living longer worries pension funds and insurers - LCP partner Aaron Punwani said: "If occupational pension funds want to wind up, they have to pay enough money to buy annuities for all the members. So an increase in the cost of annuities may have an effect on companies walking away from its pension scheme." Daily Telegraph, 30 September 2005

Government to back down over cross-border rules - LCP partner Tim Sharples said: "These regulations mean that instead of being able to make up their deficit over five or seven years, affected schemes will have to make it up immediately or over one year at most. We feel these regulations are over-strident and not the intention of the directive." Professional Pensions, 29 September 2005

Firms face cross-border pension blow - LCP said that companies sending employees abroad for more than a year could be forced to pump big sums into deficit-laden schemes due to European pension regulations. Reuters, 24 September 2005

A power shift looms in the pensions revolution - LCP have estimated that the FTSE 100 deficit could increase more than 35% to £150bn on a buy-out basis. Financial Times, 19 September 2005

Free e-learning programme - LCP partner Chris Green said: "Advising the Pensions Regulator on its trustee training programme fits in neatly with the wider range of services that we provide to inform trustees about pensions issues." Professional Pensions, 15 September 2005

Obligatory benefits statement - LCP partner Richard Murphy said with regard to the draft regulations on information disclosure: "Trustees and their sponsoring employers should consider a review to check their existing processes and to agree a plan to introduce further rigour into the way the scheme is being run." Professional Pensions, 15 September 2005

PMI introduces trustee qualifications - LCP will work alongside Epic to give pensions advice. Pensions Week, 12 September 2005

£1bn pension pot of top 100 directors - LCP calculated that the combined pension deficit of the UK's top 100 companies had narrowed in the past year. Scotsman, 09 September 2005

Companies explore new ways to plug pensions gap - LCP have estimated the total deficit for final salary schemes of FTSE 100 companies to be £37bn. Finance Week, 07 September 2005

Ian McKnight is to join LCP's investment consulting practice. Pensions Week, 05 September 2005

FTSE 100 share dividends exceed pension shortfalls - LCP partner Bob Scott said that the new Pensions Act 2004 could force companies to take steps to address their deficits, and could see a reduction in dividends paid out in 2005. LCP partner Chris Tavener said FRS17 pension deficits remain frustratingly high despite record contributions by companies in 2004 and recovering equity markets. Global Pensions, 01 September 2005

Europe's biggest deficit - The average corporate pension deficit in Germany increased 1% in 2004, while in Spain pension expenses dropped 1%, LCP found in an annual survey. Investment & Pensions Europe, 01 September 2005

Frustratingly high deficits - Recovering equity markets have helped to bring deficits down, according to LCP's annual survey. Pensions Today, 01 September 2005

Profits slashed - LCP said its survey shows FTSE 100 companies' profits will be slashed by £1bn by moves to IFRS2. Employee Rewards & Benefits, 01 September 2005

Concern over debt calculations for DBs - LCP partner David Everett said: "On the one hand, the government wants to be business-friendly by ensuring that full buyout debts do not become the norm when employers depart from multi-employer defined benefit schemes. On the other, it is saying that an MFR debt (and in future a scheme funding debt) is an insufficient payment for trustees to accept." Pensions Age, 01 September 2005

Bending over backwards - LCP partner Bob Scott said: "E-learning has a part to play but I don't think it will ever replace proper face-to-face trustee training." Pensions Age, 01 September 2005

Snakes and ladders - LCP announced that the combined pension fund deficit of the FTSE 100 companies fell from £42bn to £37bn in the year to July 2005, largely as a result of increased contributions and improved stock market performance. Investment Life & Pensions Moneyfacts, 01 September 2005

Deficits remain stubborn - Research from LCP shows that, despite staggeringly high amounts of contributions by three quarters of the FTSE 100 companies, total scheme deficits amounted to £37bn at July 2005. IDS Pensions Bulletin, 01 September 2005

Increased contributions chip little from £37bn deficit, according to LCP. Pensions World, 01 September 2005

FTSE 100 companies paid out more in dividends to shareholders in 2004 than would have been needed to wipe out their pension deficits, according to LCP. Chartered Secretary, 01 September 2005

A tougher marketplace - LCP partner Tim Sharples said: "You need good local knowledge and the disadvantage of one provider is that any provider is only as good as the weakest link in a particular country." Global Pensions, 01 September 2005

Liabilities push deficits higher - LCP partner Alex Waite said: "I think there is a real danger that as employers take a look at their mortality assumptions and realise that they will have to increase their estimates, so we will see their pension deficits increase." Pensions Management, 01 September 2005

LCP has made James Orr partner in its general insurance practice. Actuary, 01 September 2005

Welcome to the future - LCP offered cheery news in August by estimating the combined FTSE 100 pensions deficit at £37bn, down in the year to July from £42bn under FRS17. Professional Pensions, 01 September 2005

FTSE giants reduce deficits by £4.5bn - Pension deficits at Britain's 100 biggest companies fell from nearly £57bn in 2003 to around £52.5bn last year, LCP reveals. Professional Pensions, 01 September 2005

PPF levy expected to skyrocket - A survey by LCP found that FTSE 100 companies paid out more last year in dividends than their collective pension shortfalls. Money Management, 01 September 2005

According to a report by LCP, Germany, Spain and the UK have the largest pension deficits in Europe. Pensions International, 01 September 2005

Finding a solution to the UK pensions crisis - LCP estimates that the overall deficit under new pensions accounting standard FRS17 for the UK defined pension schemes of FTSE100 companies was £37bn as at July 2005. Finance Week, 31 August 2005

FRS17 liabilities magnified - SEI has calculated that if the WACC discount rate were to be implemented the current FRS17 deficit for the FTSE 100, calculated to be around £37bn by LCP, would be reduced to zero. Investment Week, 29 August 2005

A fresh perspective on the US - LCP partner Mark Nicoll said: "We are encouraging clients to look at the issue of currency management much more closely. However, the extra layer of volatility could swamp the marginal benefits of having active currency management. Trustees need to be comfortable in terms of reducing risk." European Pension News, 29 August 2005

Reports reveal growing pension deficits - LCP's annual survey found that the total deficit for Stoxx 50 companies Europe-wide increased by €1.67bn in 2004. European Pension News, 29 August 2005

Funding hole gets bigger - LCP partner Alex Waite says: "The European deficit, although slightly improving on last year, was roughly the same, which is encouraging to an extent. But, if you look at the level of contributions that was being pumped in by firms, then it is quite frustrating that deficits did not improve by more than they did. We have had a good year on the stock market and good year in terms of contributions being paid and the result is slightly disappointing. But pensions are going to move up the European agenda and we will see reactions to these big deficit numbers with companies looking to pull them down." European Pension News, 29 August 2005

Millions out of pocket because they opted out, finds watchdog - LCP partner Matthew Pearlman commented: "Essentially, you are swapping a pension from the state based on your earnings, against rebates paid into your personal pension, which will roll up depending on investment returns and charges." Daily Telegraph, 27 August 2005

Pensions store up trouble for stock-market gains - In its annual survey of pension arrangements of FTSE 100 companies, LCP has highlighted the wide variartions in the assumptions made on equity returns, life expectancy, inflation and wages growth. The Times, 27 August 2005

Other options - According to LCP, the pension deficits of all FTSE100 companies totalled about £40bn under FRS17 rules for 2004. Professional Pensions, 25 August 2005

Hewitt calls for boost for transparency - LCP partner Jeremy Dell said: "Given that many companies will have to comply with IAS19 we would expect to see many more mortality assumptions being revealed." Professional Pensions, 25 August 2005

Pensions Regulator keynote speaker at LCP conference. Professional Pensions, 25 August 2005

A pensions legacy for Blair - A report by LCP places the current deficit of schemes at £37bn. Daily Mail, 25 August 2005

The UK's 100 largest companies will see corporate profits affected by more than £1bn for the 2004-5 financial year because of changes in the way that new IFRS accounting rules report stock options, according to LCP. The Times, 24 August 2005

FTSE companies' profits may have been inflated by £1bn - LCP estimates that a change to IFRS will cut the reported profits of the average FTSE 100 company by £10m. The Times, 24 August 2005

Accounting rules will hit profits - Britain's top 100 companies by market value may have more than £1bn trimmed from their profits this year because of new accounting rules governing employee share plans, according to LCP. Irish Examiner, 24 August 2005

Share rule chokes blue chips - LCP estimate that the change to IFRS2 will amount to a £1bn hit for around 70 FTSE companies. Daily Mail, 24 August 2005

New accounting may trim UK companies' profits by $1.8bn - LCP partner Matthew Pearlman said: "Adopting IFRS will have a significant impact on company profits and the way in which companies structure share plans." Bloomberg, 23 August 2005

Firm offers a dissent on UK pension shortfall - The companies of the FTSE 100 stock index had a total pension shortfall of £37bn, according to LCP. International Herald Tribune, 23 August 2005

Footsie firms' £1bn account switch toll - adopting International Financial Reporting Standards will cut Footse firms' pre-tax profits by more than £1bn as the move wipes 2% off figures that would have been reported under British accounting methods, according to LCP. Evening Standard, 23 August 2005

IFRS change to cost FTSE 100 £1bn - LCP partner Matthew Pearlman says: "As a standard it makes sense, it puts remuneration on a level playing field. Previously companies could reward staff with lots of options and not charge these through their accounts." LCP partner Jeremy Dell commented: "Share options are an easy expense to recognise and the cost is very visible." Reuters, 23 August 2005

Report blasts flawed rules on assessing pension funds - LCP said the combined FRS17 deficit for FTSE 100 companies was £37bn. Edinburgh Evening News, 22 August 2005

Regulations could cramp M&A deals - LCP partner David Everett said: "On the one hand the multi-employer scheme regulation wants to be business-friendly by ensuring that full buyout debts do not become the norm when employers depart from multi-employer defined benefit schemes. On the other, it is saying that an MFR debt (and in future a scheme funding debt) is an insufficient payment for trustees to accept." Pensions Week, 22 August 2005

Hope for pension deficits - LCP partner Bob Scott said: "Companies with significant FRS17 deficits on their balance sheets may well find themselves restricted in terms of the dividends they are able to pay to shareholders and capital they can raise for refinancing. Pension deficits will also play a significant role in M&A activity and are already curtailing potential deals." Investment Week, 22 August 2005

New pension regulations are flawed, says report - LCP said the combined FRS17 deficit for FTSE 100 companies was £37bn. Financial Times, 22 August 2005

Pensions rule change could wipe out deficit - LCP estimated the FTSE 100's combined pension fund deficit at £37bn. The Times, 22 August 2005

Solving the pensions puzzle - LCP estimates it would cost FTSE 100 companies £150bn to walk away from their pension funds and secure the benefits in full with an insurance company. Investors Chronicle, 19 August 2005

Pension firm reassures investors - The combined pension fund deficit of the FTSE 100 companies fell from £42bn to £37bn in the year to July, LCP said. Guernsey Weekly Press, 18 August 2005

LCP partner David Lane said: "Many lawyers have cast doubt regarding whether Financial Support Directions (contribution notices) will be effective outside the EU, and this fact is likely to be the first test of the effectiveness of new pension legislation." Daily Express, 18 August 2005

CBI issues warning over pensions safety net - LCP said FTSE 100 companies with final salary pension schemes collectively faced a £37bn funding shortfall. East Anglian Daily Times, 17 August 2005

Pension scheme threat - LCP said FTSE 100 companies with final salary pension schemes collectively faced a £37bn funding shortfall. North West Evening Mail, 17 August 2005

FTSE 100 needs another boom to clear FRS17 pension deficits - LCP raises a red flag over deficit pressures, noting that the top 100 companies paid out more in dividends to shareholders in 2004 than would have been required to divest the entire pension debt shortfall. Finance Week, 17 August 2005

CBI issues warning over pensions safety net - LCP said FTSE 100 companies with final salary pension schemes collectively faced a £37bn funding shortfall. Ipswich Evening Star, 17 August 2005

Firms must be more transparent on pensions - LCP Partner Alex Waite said: "I would hope to see more companies disclose to shareholders the assumptions that they make on life expectancy when they calculate their pension fund liabilities. It really does make a big difference." The Times, 16 August 2005

Pay us pension cash, Mr Blair - LCP said FTSE 100 companies with final salary pension schemes collectively faced a £37bn funding shortfall. Daily Record, 16 August 2005

Pension firm aims to reassure buyers - The combined pension fund deficit of the FTSE 100 companies fell from £42bn to £37bn in the year to July, according to LCP. Guernsey Press, 15 August 2005

Top 100 firms could take eight years to plug pension hole - Newly appointed trustees are likely to demand bigger future cash injections into schemes, according to LCP. Aberdeen Press & Journal, 15 August 2005

The accumulated pension deficit of FTSE 100 companies is currently estimated at £37bn, according to LCP. The Business, 14 August 2005

Pensions deficit - The black hole in the UK's largest company pension schemes still stands at £37bn, despite increased employer contributions and strong stock markets, according to LCP. Scotland on Sunday, 14 August 2005

CBI fears pension closures increase - The warning comes just days after LCP said FTSE100 companies with final salary schemes collectively faced a £37bn funding shortfall. Western Mail, 13 August 2005

CBI warns pensions fund may backfire - The warning comes just days after LCP said FTSE100 companies with final salary schemes collectively faced a £37bn funding shortfall. Birmingham Post, 13 August 2005

BA must get back on course - The company is named by LCP as having the second-largest shortfall in relation to market capitalisation of any blue-chip UK listed business. Daily Mail, 13 August 2005

FTSE 100 pension gap falls to £37bn, according to LCP. Investors Chronicle, 12 August 2005

Curing a pension deficit disorder - LCP partner Bob Scott said: "Companies with significant deficits on their balance sheets may well find themselves restricted in terms of the dividends they are able to pay to shareholders and capital they can raise for refinancing. And the deficits are already curtailing potential deals." Shares, 11 August 2005

Blunkett urges calm after pension news - The shortfall faced by FTSE 100 companies in July 2005 is £5bn less than it was 12 months earlier as a result of the continued recovery in equity markets, according to LCP. Irish News, 11 August 2005

Pension deficits drop only slightly - LCP warned that if contribution rates continued at their current level it would take more than eight years for firms to wipe out deficits. Eastern Daily Press, 11 August 2005

Top firms hampered by growing fund shortfalls - LCP partner Jeremy Dell said: "The involvement of trustees, the strengthening of the power of the trustees and the involvement of the regulator will potentially make the ability for companies with large deficits to operate more difficult." LCP partner Chris Tavener commented: "New funding regulations will mean pressure for higher contributions will continue, which could lead to increasing conflict between trustees and the sponsoring company." Professional Pensions, 11 August 2005

Pension black hole will take a lot of filling - A report by LCP stating that the black hole in final salary pensions at Britain's top 100 companies only reduced by £5bn last year, despite contributions totalling £10.5bn, keeps the pressure on companies to work towards a solution. Edinburgh Evening News, 11 August 2005

Trustees will need to strike balance - The shortfall faced by companies with final salary schemes in July 2005 was £5bn less than it was 12 months earlier because of the recovery in equity markets, according to LCP. Bath Chronicle, 11 August 2005

Pension deficit drops £5bn - The shortfall faced by companies with final salary schemes in July 2005 was £5bn less than it was 12 months earlier because of the recovery in equity markets, according to LCP. Dundee Courier & Advertiser, 11 August 2005

Dividends may be hit to help pay pensions - LCP partner Bob Scott said: "Those companies with significant FRS17 deficits on their balance sheets may well find themselves restricted in terms of the dividends they are able to pay to shareholders and capital they can raise for refinancing." Scotsman, 11 August 2005

Pensions pains - LCP estimated firms listed in the DJ Stoxx 50 index had deficits totalling €116bn as of January this year. Scotsman, 11 August 2005

Pension aid fund needs funds - LCP partner Bob Scott said: "The FTSE 100 companies are probably going to be least affected by the PPF levy." Birmingham Post, 11 August 2005

Pensions shortfall - The UK's biggest companies have pension deficits totalling £37bn, despite firms paying record sums into schemes, LCP says. Liverpool Echo, 10 August 2005

Pensions shortfall - LCP warned that FTSE 100 would have to rise from its current level of 5,300 to 6,700 if the companies' pension scheme deficits was to be wiped out by next year. Northants Evening Telegraph, 10 August 2005

Biggest firms face pensions shortfall - LCP warned that FTSE 100 would have to rise from its current level of 5,300 to 6,700 if the companies' pension scheme deficits was to be wiped out by next year. Bolton Evening News, 10 August 2005

Major companies in pension deficit - The shortfall faced by FTSE 100 companies with final salary pension schemes in July 2005 is £5bn less than it was 12 months earlier as a result of the continued recovery in equity markets, according to LCP. Brighton Evening News, 10 August 2005

Pension shortfall for top firms - The UK's biggest companies have pension deficits totalling £37bn despite firms paying record amounts into the schemes, research by LCP shows. Gloucester Citizen, 10 August 2005

Firms face £37bn pension deficit - The shortfall faced by FTSE 100 companies with final salary schemes in July 2005 is £5bn les than it was 12 months earlier as a result of the continued recovery in equity markets, according to LCP. Lancashire Evening Post, 10 August 2005

Blue-chip pension fund risk - LCP calculated that, across the FTSE100, for every £100 of liability, pension schemes held assets of only £88 in July, up from £85 last year. Daily Express, 10 August 2005

Pensions brake - According to LCP, the pensions deficit overhanging the top 100 UK companies still stands at a collective £37bn, just £5bn down on last year. Daily Mail, 10 August 2005

Firms dogged by £37bn retirement fund chasm - LCP partner Martin Slack said about the 2004 survey: "What we saw was the bad news story wiping out the good news." Daily Mail, 10 August 2005

Power to pay dividends now lies with regulator - In its annual survey of the pension fund deficits of the FTSE 100 index, LCP pointed out the immense control that the new regulator has over companies. Daily Telegraph, 10 August 2005

Even the bull runs scared when the regulatory Rottweiler bares his teeth - According to LCP's annual survey, the deficit for the FTSE 100 companies as a whole has shrunk from £42 bn to £37bn, which is only slightly less than the value of dividends they paid out last year. Daily Telegraph, 10 August 2005

Give us chastity, but not too much or too soon - LCP points out that regulatory changes mean pension deficits may increasingly be seen as a hindrance to normal business activity, encouraging faster action. Financial Times, 10 August 2005

Dividends exceed pension shortfalls - FTSE 100 companies paid out more in dividends to shareholders in 2004 than would have been required to wipe out the collective shortfall in their pension schemes, according to the latest annual survey of LCP. Financial Times, 10 August 2005

Firms put investors before pensions - LCP's annual report warned that the days of shareholders gaining at the expense of pension schemes could be numbered because of new rules that give scheme trustees more power to negotiate higher pension contributions from employers. The Guardian, 10 August 2005

Do-gooders do good - LCP forecasted a wave of confrontation between companies and trustees. The Guardian, 10 August 2005

Pension deficit falls to £37bn - The shortfall faced by FTSE 100 companies with final salary pension schemes in July 2005 is £5bn less than it was 12 months earlier as a result of the continued recovery in equity markets, according to LCP. Manchester Evening News, 10 August 2005

Big firms in £37b pensions crisis - The shortfall faced by FTSE 100 companies with final salary pension schemes in July 2005 is £5bn less than it was a year earlier as because of the recovery in equity markets, according to LCP. Metro, 10 August 2005

Market rally slashes £5bn from pension deficits of top 100 firms - LCP partner Bob Scott commented: "A lot of this has to do with legislation and increased disclosure. With companies having to put deficits on to their balance sheets, that has highlighted the position. Meanwhile, the Pensions Act has given more power to trustees. All of these things mean companies are having to address their deficits." The Independent , 10 August 2005

Policymakers face PPF poster - According to LCP, the collective deficit of Britain's top 100 companies is falling - down some £5bn this year to £37bn. The Independent , 10 August 2005

Blue chips use pensions to lift profits - LCP has uncovered stark differences in the way companies account for their pension funds, allowing the less conservative to flatter their profit numbers. The Times, 10 August 2005

A fifth of blue chip companies have boosted their stated profits this year by making more optimistic assumptions about the future equity returns of their staff pension funds, according to LCP. The Times, 10 August 2005

Pension deficits still haunt companies, despite rise in paying in - LCP partner Chris Tavener said: "Despite record amounts of contributions by the FTSE100 companies and recovering equity markets, FRS17 pension deficits remain frustratingly high." Birmingham Post, 10 August 2005

£37 bn pension deficit for firms - The shortfall faced by FTSE100 companies with final salary schemes in July 2005 is £5billion less than it was a year earlier as a result of the continued recovery in equity markets, according to LCP. Daily Record, 10 August 2005

Britain's biggest companies face £37bn shortfall in pensions - LCP partner Chris Tavener said: "Despite record amounts of contributions by the FTSE100 companies and recovering equity markets, FRS17 pension deficits remain frustratingly high." The Herald, 10 August 2005

Top firms face £37bn crisis over pensions - LCP partner Chris Tavener said: "We are seeing many companies who are increasing their level of contributions but there is also a trend for them to ask employees to pay more as well to share the burden." Yorkshire Post, 10 August 2005

UK pension safety fund needs maximum levy - LCP partner Bob Scott said: "FTSE 100 companies are probably going to be the least affected by the PPF's risk-based levy." Reuters, 10 August 2005

Pensions deficit falls to £37bn, according to LCP. Manchester Evening News, 10 August 2005

Pensions still have big hole - LCP reported that six companies have FRS17 deficits greater than 30% of their market capitalisation as at their 2004 year ends. Shropshire Star, 10 August 2005

Major players reveal a £37bn pension deficit - LCP partner Chris Tavener said: "Despite record amounts of contributions by the FTSE100 companies and recovering equity markets, FRS17 pension deficits remain frustratingly high." Yorkshire Evening Post, 10 August 2005

Pension fund deficit faces top names - LCP said that during 2004 nearly half of the FTSE 100 companies declared shareholders dividends that were worth more than their pension fund deficits, with all top flight firms declaring dividends worth £39bn. Teesside Evening Gazette, 10 August 2005

Better news on pensions - The pensions shortfall of FTSE 100 companies in July 2005 is £5bn less than it was 12 months earlier, according to LCP. Western Daily Press, 10 August 2005

Pensions still short - The UK's biggest companies have pension deficits totalling £37bn, despite firms paying record amounts into the schemes, research by LCP shows. Eastern Daily Express, 10 August 2005

Pensions still short - The UK's biggest companies have pension deficits totalling £37bn, despite firms paying record amounts into the schemes, research by LCP shows. Eastern Daily Express, 10 August 2005

Firms still face pension shortfall - The UK's biggest companies have pension deficits totalling £37bn, despite firms paying record amounts into the schemes, research by LCP shows. York Evening Press, 10 August 2005

Pension worries - The UK's biggest companies have pension deficits totalling £37bn, despite firms paying record amounts into the schemes, research by LCP shows. Leicester Mercury, 10 August 2005

Pension worries - The UK's biggest companies have pension deficits totalling £37bn, despite firms paying record amounts into the schemes, research by LCP shows. Leicester Mercury, 10 August 2005

Pensions deficits - The UK's biggest companies have pension deficits totalling £37bn, despite firms paying record amounts into the schemes, research by LCP shows. Lancashire Evening Telegraph, 10 August 2005

Pensions black hole 37bn - LCP partner Chris Tavener said: "Despite record amounts of contributions by the FTSE 100 companies and recovering equity markets, FRS17 pension deficits remain frustratingly high." Liverpool Daily, 10 August 2005

Pension black hole falls to £37bn - According to a report by LCP, the total deficit among FTSE 100 companies fell by £5bn over the year as more than 75% of employers elected to increase contributions to their ailing scheme. Belfast Telegraph, 10 August 2005

Firms still face pension deficit - The shortfall faced by FTSE 100 companies in July 2005 is £5bn less than it was 12 months earlier, according to LCP. Peterborough Evening Telegraph, 10 August 2005

Biggest firms face pension shortfall - The shortfall faced by FTSE 100 companies in July 2005 is £5bn less than it was 12 months earlier as a result of the continued recovery in equity markets, according to LCP. Western Morning News, 10 August 2005

Pensions Bill shortfall £37bn - The shortfall faced by FTSE 100 companies in July 2005 is £5bn less than it was 12 months earlier as a result of the continued recovery in equity markets, according to LCP. Cambridge Evening News, 10 August 2005

Pension deficit reduced - The shortfall faced by FTSE 100 companies in July 2005 is £5bn less than it was 12 months earlier as a result of the continued recovery in equity markets, according to LCP. Gloucestershire Echo, 10 August 2005

Big firms face £37bn pension deficit - LCP's research showed six firms faced pension scheme funding shortfalls that were more than 30% of market capitalisation. Glasgow Evening Times, 10 August 2005

Biggest firms still face £37bn pension deficit - The shortfall faced by FTSE 100 companies in July 2005 is £5bn less than it was 12 months earlier as a result of the continued recovery in equity markets, according to LCP. Cambridge Evening News, 10 August 2005

New warning on pension shortfall - The shortfall faced by FTSE 100 companies in July 2005 is £5bn less than it was 12 months earlier as a result of the continued recovery in equity markets, according to LCP. Basildon Evening Echo, 10 August 2005

Pensions blow - The shortfall faced by FTSE 100 companies in July 2005 is £5bn less than it was 12 months earlier as a result of the continued recovery in equity markets, according to LCP. Bath Chronicle, 10 August 2005

Pensions shortfall warning - The shortfall faced by FTSE 100 companies in July 2005 is £5bn less than it was 12 months earlier as a result of the continued recovery in equity markets, according to LCP. Carlisle News & Star, 10 August 2005

UK's top firms have £37bn pension hole - LCP said that six firms faced pension scheme funding shortfalls that were more than 30% of their market capitalisation. Wolverhampton Express & Star, 10 August 2005

Pension funds push UK to top of corporate governance lists - LCP partner Paul Black said a series of reports throughout the 1990s had served to concentrate the corporate mind on governance issues. Pensions Week, 08 August 2005

Conflict of interest fuels rise in separate advisers - LCP claims that the marjority of firms plan to use separate actuarial advisers for their pension schemes to avoid any conflicts of interest. Professional Pensions, 04 August 2005

USS launches A-Day drive for high earners - the A-Day modeller on CD-rom used by the USS was developed in conjunction with LCP and Anthony Hodges Consulting. Professional Pensions, 04 August 2005

Total annual pension levy to top £300 million - LCP partner Aaron Punwani says: "It seems the maximum levy could be in excess of 4% of the pension scheme's assets in relevant cases, wrecking their chances of ever getting back to full funding." Occupational Pensions, 01 August 2005

Deficits continue to cause concern - LCP's annual survey unveiled "frustratingly high" pension deficits among the FTSE 100 companies which totalled £37bn as of July 2005. Pensions Age, 01 August 2005

Deficits continue to cause concern - LCP's annual survey unveiled "frustratingly high" pension deficits among the FTSE 100 companies which totalled £37bn as of July 2005. Pensions Age, 01 August 2005

Paul Black has joined LCP as a partner within the investment team. Pensions Age, 01 August 2005

FRS17 blasted for inaccuracies - Figures by LCP detailed that the total FTSE 100 FRS17 deficit is £37bn. Accountant, 01 August 2005

IFRS2 leaves its mark on largest UK companies - Accounting for employee share plans under IFRS has resulted in an average reduction in profit before tax of 2% among the 100 largest UK companies by market value, according to LCP. Accountant, 01 August 2005

Pension fund shake-up to boost bond demand - LCP partner Martin Slack says: "S&P has data on the probability of a company defaulting and can evaluate a company's financial strength even if the credit ratings are not in the public domain." Credit Magazine, 01 August 2005

Think again about bulk buyout - Research by LCP in 2004 found that reflecting the findings of the latest longevity research could add a further £20bn deficits to FTSE 100 companies' balance sheets. Pensions Management, 01 August 2005

On the brink - Pensions due diligence: LCP has represented companies that would have come unstuck without expert help. M&A, 01 August 2005

Paul Black has left his post at Mellon Human Resoruces & Investor Solutions to join LCP as a partner. Global Pensions, 01 August 2005

Data at hand - LCP partner Charl Cronje says: "Before firms grant options, they tend to come to an actuarial firm and ask it to estimate in advance if they make a grant of options what the accounting charge will be. We look at that under various scenarios, for example, how many people leave and what happens to the share price." Employee Benefits, 01 August 2005

Experts: small schemes will bear the brunt of increased costs - LCP partner Aaron Punwani was surprised that, in the pension protection levy consultation document, investment strategey wasn't included in assessing risks, and voiced his concerns about affected pension schemes needing to have a valuation for levy purposes completed by the end of next year. Pensions Management, 01 August 2005

LCP appoints Paul Black as partner. Professional Pensions, 28 July 2005

ICI reviews £470m pension shortfall - LCP partner Bob Scott said: "We'll see more and more of this as companies are starting to take into account the fact that people are living longer." Daily Express, 21 July 2005

Trading places - LCP has made James Orr a partner in its general insurance practice. Insurance Day, 21 July 2005

Hole lot of trouble for top 10 pension schemes - LCP partner Aaron Punwani says: "Companies will try to reduce the amount of risk-based levy they pay by putting more money into the scheme and diverting money away from shareholders." Daily Mirror, 20 July 2005

Pensions guardians scared off as pressure increases - LCP partner Alex Waite said: "Trustees have been bombarded by huge amounts of regulation and it's quite hard to find member-nominated trustees that want to take the time to deal with it. Many trustee boards are having trouble finding enough people willing to do the job." The Times, 20 July 2005

Ten top UK pension deficits at 24.86 bln - In 2004 consultants Lane Clark & Peacock said that 10 British firms listed on the blue-chip FTSE 100 index had pension shortfalls in excess of 25 percent of their market capitalisation. Reuters, 19 July 2005

UK Pension Protection Fund levy proposals raises insolvency fears - LCP partner Aaron Punwani was not convinced the levy - even when capped - would not prove a burden to firms already experiencing financial difficulty. European Pension News, 18 July 2005

Paul Black joins LCP as investment partner. European Pension News, 18 July 2005

Dividend payments will fall as PPF levies rise - LCP partner Aaron Punwani said: "As a result of the risk-based levy and stiffer funding requirement, more cash will be required in the pension fund and consequently taken away from shareholders." Pensions Week, 18 July 2005

FAS fails terminally ill - LCP partner Martin Slack said: "The government has allocated a sum to the FAS and that sum is simply not going to go very far on an actuarial basis." Pensions Week, 18 July 2005

Concern as annual cost of PPF rises above £300m - LCP partner Aaron Punwani says: "It seems the maximum levy could be in excess of 4% of the pension scheme's assets in relevant cases. This means that, over a 10-year period, a quarter or even more of the scheme's assets could have been paid out as PPF levies, wrecking their chances of ever getting back to full funding. It is difficult to see that this will be much comfort to trustees of underfunded schemes with weak sponsoring employers." Pensions Week, 18 July 2005

Pension rules heighten insolvency threat - As a result of new accountancy rules, credit ratings could be downgraded and, in the worst scenario, a company could be pushed into insolvency, according to LCP. Observer, 17 July 2005

LCP has strenghtened its general insurance practice with the appointment of James Orr as partner. Lloyds List, 14 July 2005

New pensions levy could cripple smaller firms - Aaron Punwani, a partner for the actuaries Lane Clark & Peacock said: "A pension scheme that is fully funded against the PPF-protected benefits and invests in assets that closely match those benefits will not have been expecting to pay a significant risk-based levy next year, but the current proposal allows this to happen." The Independent , 13 July 2005

Consultants’ reactions to PPF levy proposals - Aaron Punwani, partner and head of trustee consulting at Lane Clark & Peacock, said: "We welcome the limit on the amount of the risk-based levy payable by an individual pension scheme, but it seems that the maximum levy could be in excess of 4% of the pension scheme's assets in relevant cases. This means that, over a 10-year period, a quarter or even more of the scheme's assets could have been paid out as PPF levies, wrecking their chances of ever getting back to full funding. It is difficult to see that this will be much comfort to trustees of under funded schemes with weak sponsoring employers.” www.ipe.com, 12 July 2005

Trustee Summer School: Help wanted to handle deficit issues - LCP partner Aaron Punwani says: "Trustees and the company are usually happy to share factual information on the assumptions used and the impact these have on the recovery period. Both parties can ask the adviser to prepare figures based on different assumptions and different recovery periods. However, confidential advice is relevant in the interpretation of these facts and in the recommendations, conclusions and tactics each party might adopt." Financial Times, 11 July 2005

LCP to advise on public sector contract benefits. Pensions Week, 11 July 2005

Consultants point to ambiguities in new guidelines - LCP partner Paul Gibney says: "Overall, the European directive has not been sufficiently tailored for UK pension schemes and needs further clarification. For example, section 4.2 talks about ensuring security, quality, liquidity and profitability of the portfolio. However, it is unclear in this context what makes a profitable portfolio." European Pension News, 04 July 2005

PPF levies may spell the end of many underfunded schemes - LCP partner Martin Slack says: "Depending on the size of the final fund the PPF levies could tip certain firms into insolvency. This area is still uncertain but the general view is that they will have to go up sooner rather than later." Pensions Week, 04 July 2005

Occupational hazards - LCP partner Jonathan Camfield says: "It is really important to recognise that simplifciation impacts on pension schemes generally. Chief executives and finance directors will need to review the rules and benefits of these schemes to see that they still make sense after A-day." Director, 01 July 2005

A specialist public sector outsourcing group has been launched by LCP, aimed at advising private sector companies on the pensions and redundancy benefits of employees transferring from the public sector. Pensions Age, 01 July 2005

LCP has appointed James Orr as partner in its general insurance practice. Continuity Insurance & Risk, 01 July 2005

Aiming for success - LCP consultant Adam Michaels says: "There are some suggestions that target-return or liability-driven investing will prove to be a fad, but I for one don't believe them. This kind of investment approach addresses a need in the market: to address pension funds' deficits by targeting high returns with lower volatility." Professional Pensions, 30 June 2005

Hedging your bets with hedge funds - LCP partner Paul Gibney says: "Fund-of-hedge funds are being used by trustees primarily to provide diversification to lower the risk in their portfolios." Pensions Week, 27 June 2005

How to assess the health of your final salary scheme - Find out what your employer is doing to reduce any deficit. LCP partner Chris Tavener says: "An employer can't walk away from their pension scheme." Observer, 26 June 2005

Pensions: Last call - One in 10 companies in the FTSE 100 has a pensions deficit greater than 25% of its market capitalisation, according to LCP. Observer, 19 June 2005

Home reversion: a safer option? - LCP partner Tim Sharples says: "Home reversion is, as is equity release in general, being talked about a lot more, and we are seeing a higher interest among providers in putting these types of products out to market. Also, more and more people are becoming used to the idea of using home reversion rather than keeping all their equity to pass on to their children; so it is being seen more as an alternative to lifetime mortgages; therefore better regulation is great from our perspective." Pensions Age, 01 June 2005

Tax-free cash: post A-day implications - LCP partner Karen Goldschmidt says: "For most DB schemes post A-day, if members are simply offered four times the pension, this will be within the tax rules (although for some schemes it might be three times or five times the pension, depending on the scheme's commutation factor)." Pensions Age, 01 June 2005

LCP has launched its Trustee Knowledge Advisory Service. Pensions Age, 01 June 2005

Sense of style - LCP partner Jonathan Camfield says: "With both lifestyling and 100% equity funds, one member with exactly the same contributions as another (over a different time period) could get a pension a third the size depending upon retirement date. A five year switching period is simply not enough to eliminate the risk. The problem is, members are invested in risky equities for most of their career and you never know the right switching period without the benefit of hindsight." Pensions World, 01 June 2005

The longest hedge - Given the fact that most schemes use outdated mortality assumptions, actuaries believe that the aggregate FRS17 deficits of FTSE100 companies could be £80m rather than £60m. The additional £20m was identified by LCP's 2004 annual report, Accounting for Pensions. Pensions World, 01 June 2005

Trustee support - LCP offers a Trustee Knowledge Advisory Service. Pensions World, 01 June 2005

Pensions on the rocks - LCP partner Aaron Punwani says: "A pension scheme's finances are inextricably linked to the finances of its sponsoring company and looking at either in isolation is not an option." CA Magazine, 01 June 2005

PPF gives guidance on valuations - LCP comments that the basis used looks to set the cut-off for PPF eligibility for many schemes at less than the cost of securing the equivalent benefits from an insurance company. Occupational Pensions, 01 June 2005

Periodical payments warning - LCP partner Joe Monk said self-funding payments was the cheaper option to periodical payments. Insurance Times, 26 May 2005

LCP has launched its Trustee Knowledge Advisory Service to help trustees meet the demands of the Pensions Act 2004. Professional Pensions, 26 May 2005

Bitter sweet annuity - LCP partner Jeremy Dell says: "A pure CARE scheme is not simply a method of significantly reducing risk in a pension scheme. There are many, much greater risks associated with pension schemes such as investment risk, mortality risk and most appropriately these days - regulatory risk. Creating a CARE/DC hybrid can manage these risks much better." Professional Pensions, 26 May 2005

LCP has launched an advisory service to help trustees cope with stringent new Pension Act demands. Professional Pensions, 12 May 2005

LCP has launched Sprint, a modelling tool which provides actuarial valuations and investment strategy advice for defined benefit schemes. Professional Pensions, 12 May 2005

Centrica liabilities soar - LCP consultant Adam Poulson said: "Trustees are going to come under more pressure with the new powers coming out of the Act. There will be pressure to look carefully at the contribution agreements they have with the sponsoring employer and to take into account the financial strength of that firm when considering the overall contribution strategy. IFRS numbers would certainly affect this decision." Professional Pensions, 12 May 2005

Consultants differ on contracting-out - LCP partner Bob Scott argued that although contracting back in may be financially advantageous for some schemes, it is better overall to stay contracted-out. Pensions Week, 09 May 2005

Don't delay digging out the details - LCP partner Jonathan Camfield says: "You should certainly consider the implications of simplification if you already have about £1m in your fund but younger people with funds of £0.5m-1m and those who already earn about £70,000 could be affected." Financial Times, 07 May 2005

It takes a lot of cash to cover the essentials - According to LCP, FTSE100 companies have a stated aggregate deficit of about £40bn. LCP partner Bob Scott says that, if updated mortality tables were used, this coud add a further £20bn to the deficit for FTSE100 companies, taking it to £60bn. Financial Times, 07 May 2005

How to spot companies at risk of exposure - A useful source of information is LCP's "Accounting for Pensions" annual survey. Financial Times, 07 May 2005

Will you still feed me when I'm 94? - In their survey Accounting for Pensions 2004 LCP estimated that the FTSE 100 companies had an overall deficit on their pension funds of £20bn, and that this would double to £40bn if the latest longevity projections were used. Money Management, 01 May 2005

Just the DC ticket? - Lane Clark & Peacock have built investment software programmes to aid members of client DC schemes make sensible choices. Investment & Pensions Europe, 01 May 2005

People on the move - LCP has announced the appointment of three new partners: Ian Gamon, Aiden Coloe and Mary McGrath. Pensions Age, 01 May 2005

Courts Act leads to surprise settlement - According to LCP partners Joe Monk and Phil Boyle, insurers have devised structured settlement plans and settled with claimants out of court, saving on legal costs. Post Magazine & Insurance Week, 28 April 2005

UK Pensions Awards 2005 - Lane Clark & Peacock is actuarial consultancy of the year. Professional Pensions, 21 April 2005

S&P study warns of strain on UK's pension agency - The deficits in the pension funds of 10 large British companies were more than 25% of their market capitalisation, according to data from Lane Clark & Peacock last year. International Herald Tribune, 19 April 2005

Shocking silence over pensions - Pensions fund advisers report that a few, usually hard-nosed, directors are slightly conscious-stricken that some employees are now making no pension contributions. LCP partner Jeremy Dell suspects that these reluctant paternalists may lobby whichever party comes to power to introduce rules to allow workers to be enrolled automatically in the pension scheme. The Times, 16 April 2005

Trustees facing new headache - LCP said the Occupational Pension Schemes (Employer Debt) Regulations 2005, which came into force last week, meant that trustees of money purchase pension schemes would have to seek "unnecessary" actuarial advice. Financial Adviser, 14 April 2005

LCP has appointed Ian Gamon, Aiden Coloe and Mary McGrath as partners. Professional Pensions, 14 April 2005

Cloud on the pensions horizon - LCP partner Jonathan Camfield says: "FDs will need to review the rules and benefits of employee-related schemes to see that they still make sense after A-Day." Accountancy Age, 14 April 2005

Actuaries face difficulty in calculating valuations - LCP partner David Everett said: "Scheme actuaries are continuing to be placed in an increasingly intolerable position of having to second guess annuity pricing in an extremely limited market." Professional Pensions, 14 April 2005

Firms wil exploit PPF unless levy is at suitable level - LCP partner Aaron Punwani says that the entry conditions for schemes joining the PPF could encourage the deliberate underufnding of schemes. Professional Pensions, 14 April 2005

JP Morgan Fleming focuses on fund deficits - "They are going to have to increase contribution levels in the hope that assets will improve", said LCP partner Martin Slack, referring to the situation in the UK. European Pension News, 11 April 2005

LCP welcomes three partners - Ian Gamon, Aiden Coloe and Mary McGrath. Pensions Week, 11 April 2005

LCP has announced the appointment of three new partners, Ian Gamon, Mary McGrath and Aiden Coloe. Financial Adviser, 07 April 2005

New pensions tool aimed at high paid - The Pensions Mentor has been developed with actuaries Lane Clark & Peacock and pension consultants Anthony Hodges Consulting. Employee Benefits, 01 April 2005

Further tax simplification rules unveiled - LCP partner David Everett said: "It's pleasing to see that the Inland Revenue is reacting to some of the concerns that have been raised by industry bodies. However, a number of the announcements are vague, perhaps deliberately so, and there is no indication when further detail will be available, nor given the likelihood of a general election this year, whether the measures will be contained in a pre- or post-election Finance Act." Occupational Pensions, 01 April 2005

'New passive' blossoms - LCP partner Steven White said: "If you have got liabilities in your mind, instead of just a benchmark index, then low risk investing might be investing in an active portfolio, which has a value bias or a low beta against the market. There are various forms of active portfolios, which from a liability perspective may actually be lower risk than passive." Global Pensions, 01 April 2005

Periodic payments set to impact on insurers - LCP partner Joe Monk said: "Compensation payments will be made over many decades and, if the claim is reviewable, the payment terms may even change. Insurers will have to get to grips with how these long-term payments are affected by investment returns, inflation and mortality. There are also issues as to how to administer and reserve for these claims, particularly with regards to reinsurance." Insurance Day, 01 April 2005

Balancing act - Pensions due diligence: LCP has represented companies that would have come unstuck without expert help. M&A, 01 April 2005

Live your dreams - Pension scheme deficits of FTSE 100 companies are estimated at £42bn and increasing life expectancy could add a further £20bn to this, according to LCP. Your Money, 01 April 2005

Wake up to the harsh reality of retirement savings, unless, of course you are an MP - LCP partner Aaron Punwani said: "To replicate an MP's pension, an individual who started saving at age 20 would need to contribute £17,000 a year - rising in line with wage inflation - to age 60 to get the full two thirds of final salary MPs are entitled to at retirement." Daily Telegraph, 31 March 2005

Warning over Morris proposals on separate actuarial advisers - LCP partner Aaron Punwani said: "Whilst the Morris review puts some onus on trustees to identify potential conflicts, and on the regulator to guide them, we believe trustees should be able to rely on their actuaries to be proactive in pointing out the potential for conflicts of interest and suggesting ways to manage them." Pensions Week, 28 March 2005

Actuaries should be subject to effective external regulation, says Sir Derek Morris - LCP partner Aaron Punwani says: "Whilst the Morris review puts some onus on trustees to identify potential conflicts, and on the regulator to guide them, we believe trustees should be able to rely on their actuaries to be proactive in pointing out the potential for conflicts of interest and suggesting ways to manage them." European Pension News, 28 March 2005

Pension reforms could hit firms where it hurts - LCP partner Jonathan Camfield warns that companies could find their contributions doubling or tripling as the cap vanishes. So they will need to address this issue with their pension advisers. Scotsman, 24 March 2005

A-Day modeller explains tax simplification - PensionMentor has been designed by Anthony Hodges Consulting and Lane Clark & Peacock in conjunction with the University Superannuation Scheme and the Railway Pension Scheme, as well as the schemes sponsored by Cable & Wireless, Diageo, Hunting and Daily Mail General Trust. Professional Pensions, 24 March 2005

Pensions debate gap narrower than it seems - The current value of unfunded liabilities in the public sector dwarfs the likely pension liabilities of the FTSE100 companies, estimated at £238bn for 2004 by Lane Clark & Peacock. The Financial Times, 22 March 2005

Actuaries told to face inevitable change - LCP partner Aaron Punwani raised fears that excessive scrutiny of actuarial advice could lead to overly defensive advice and substantially increased costs. Daily Telegraph, 17 March 2005

Public sector is urged to shop around for actuaries - LCP partner Aaron Punwani said that, while he welcomed most of the report, he was concerned that excessive scrutiny of the sector could lead to "reckless prudence", forcing acturies to take an over-conservative stance. The Independent , 17 March 2005

BT reviews retirement age - an LCP survey last July found that the total pension fund deficits of the country's 100 largest companies was £42bn. The Times, 17 March 2005

UK actuaries start huge shake-up after report on conflicts of interest - Aaron Punwani and Richard Murphy, both partners at Lane, Clark and Peacock, said: “We welcome the review in general. This is the biggest government-initiated shake-up in 100 years but we, as an industry, were already shaking ourselves up. Handling conflicts of interest will no doubt hit the headlines in the next few months as trustees demonstrate they are acting independently of the company sponsors. But the reason there are more conflicts now is because trustees have more power under the Pensions Act to set the investment strategy and company contribution levy. But what was not addressed by the review was to say how independent scrutiny of advice will be achieved and where problems should be taken if there are conflicts.” www.ipe.com, 17 March 2005

Executives choose early retirement over pension tax - Jonathan Camfield, partner at actuarial consultants Lane Clark & Peacock, said: “As A-day approaches we are aware of a number of executives bringing forwards their retirement plan to avoid this tax. It will cause some talent drain.” www.ipe.com, 17 March 2005

Taking the global view - LCP partner Jeremy Dell said: "We've been talking to our clients about using liability-driven investments to match their cashflows for several years now, and most of our clients are running an investment strategy that combines matching investments and cash consideration with an alpha-driven portfolio." European Pension News, 14 March 2005

Trustees urged to restore scheme funding levels - LCP partner Aaron Punwani said the finances of a pension scheme and those of its sponsoring company could not be looked at independently of each other." Professional Pensions, 10 March 2005

UK sees few dangers to firms from EU pensions law - LCP partner Jeremy Dell said that the directive had the potential to deal some heavy blows to occupational pensions, even bankrupting some firms. Reuters, 10 March 2005

Trustees not factoring sponsors' financial strength into investment decisions - LCP partner Aaron Punwani said: "A pension scheme's finances are inextricably linked to the finances of its sponsoring company and looking at either in isolation is not an option. Pension scheme trustees are about to be given much greater powers and responsibilities which will bring all these issues to the fore. They need to ensure they have got to grips with all the risks they are running in their pension scheme, of which the sponsor's financial strength is a key component." Pensions Week, 07 March 2005

Companies start to fill £40bn hole in pension schemes - LCP partner Bob Scott said: "Some pension funds have the rules written so that the company can set the contribution rate. But under the new rules, trustees will have the power to ensure that companies make a proper contribution to the fund. And if the two parties fail to agree, the trustees can ask the regulator to intervene." The Independent , 01 March 2005

Up in smoke - LCP partner Jonathan Camfield says: "It is really important to recognise that Simplification impacts on pensions schemes generally. FDs will need to review the rules and benefits of these schemes to see that they still make sense after A-Day." Financial Director, 01 March 2005

Complexity added to simplification - LCP partner David Everett said: "A number of the announcements are vague, perhaps deliberately so, and there is no indication when further detail will be available, nor given the likelihood of a general election this year, whether the measures will be contained in a pre- or post-election Finance Act." Pensions Age, 01 March 2005

Best of both worlds- LCP partner Martin Slack said: "Our new hybrid arrangement provides better security for the lower paid people than the previous set-up did, which has been positively received. The overall risk has come down and been reshuffled so that the lower paid people have more protection but the higher paid people will take some of the risk themselves." Pensions Age, 01 March 2005

Better training call for pension fund trustees - LCP partner Alex Waite said that, if necessary, insider trustees could abstain on issues where they were conflicted. Only in a handful of cases had he known insiders resign because of the problem. The Times, 24 February 2005

Revenue reforms add to complexity - LCP partner David Everett said: "A number of the announcements are vague - perhaps deliberately so - and there is no indication of when further detail will be available, nor - given the likelihood of a general election this year - whether the measures will be contained in a pre-election or post-election Finance Act." Professional Pensions, 24 February 2005

Call for lighter regulation of DC schemes - LCP partner Bob Scott said: "While the Pensions Act 2004 gives new powers and responsibilities to trustees, some may feel that a requirement to undergo extensive training sessions based on checklists simply makes their burden too much to bear. We believe that training should be people based not paper based." Investment Week, 21 February 2005

Opra trustee checklist comes under fire - LCP partner Bob Scott said: "While the Pensions Act 2004 gives new powers and responsibilities to trustees, some may feel that a requirement to undergo extensive training sessions based on checklists simply makes their burden too much to bear. We believe that training should be people based not paper based." Pensions Week, 21 February 2005

Living with uncertainty: predicting longevity trends - LCP partner Bob Scott says that if updated mortality tables were used to assess DB liabilities, the FTSE 100 companies could add a further £20bn to the current estimated aggregate deficit of £60bn. Financial Times, 14 February 2005

Government blunders over pension fund - LCP partner Bob Scott said: "Although the government's revision of pension law was just a blunder it doesn't bode well. There is an awful lot of flesh to be put on the bones of the Pensions Act in a tight timescale. It could be quite messy." Daily Telegraph, 10 February 2005

The unknown cost - LCP partner Joe Monk says: "The level of expertise in general insurance companies for handling issues related to periodical payments is nil and even in life companies there is not the right level of expertise." Insurance Times, 03 February 2005

LCP to provide admin for BG Group DB plan. Professional Pensions, 03 February 2005

Share plan - LCP partner Charl Cronje says: "Share plan options may not be the best solution for companies which don 't have much growth potential but which generate a lot of income. For example, utilities have good solid returns but are subject to various market restraints and are unlikely to double their share price so their executives may not get too excited about options." Pay & Reward, 01 February 2005

Smoothing over the differences - LCP suggested that the fact that there are now two options means that two otherwise identical companies both reporting under IAS19 could show very different balance sheet numbers. Investment & Pensions Europe, 01 February 2005

Tracking the trends - LCP partner Charl Cronje says: "Share options cost nothing when given and did not appear in published accounts but now they must be given a value which means that from an accounting point of view they are no more attractive than free shares." Pensions Age, 01 February 2005

Creative solutions for your assets - LCP partner Steven White says: "All major institutional managers will accept a scheme specific benchmark. Trustees can invest 60% in equities and 40% in bonds, with equities dividied into UK and overseas." Global Pensions, 01 February 2005

LCP to provide admin services for BG group. Pensions Week, 31 January 2005

The advent of accounting stardard FRS17 means that pension schemes are facing a £100bn shortfall - Lane Clark & Peacock publishes the most authoritative survey of FTSE100 pension schemes. Investors Chronicle, 28 January 2005

Solution or conflicts - LCP partner Tony Cunningham says: "The creation of multi-manager funds and investment platforms creates the opportunity for potential conflicts of interest, but one could argue that the traditional approach to manager selection and monitoring creates an equal but different conflict." Professional Pensions, 27 January 2005

New boost to personal injury claims costs - LCP partner Joe Monk said: "There are some annuities on the market but they don't currently meet our requirements and they are very, very expensive. This could load a massive amount of claims inflation onto insurers' books." Insurance Times, 20 January 2005

My three pillars of wisdom - LCP estimated that FTSE100 companies alone have pension fund deficits totalling some £42bn. Financial Adviser, 13 January 2005

Firms turn to external consultants - LCP head of corporate consulting Alex Waite says that a growing number of firms are hiring their own consultants to advise them on funding issues and how to represent pensions in their accounts instead of relying exclusively on the trustees' actuarial consultant. Professional Pensions, 13 January 2005

Optimistic share forecasts underpin pension strategies - The new FRS 17 accounting standard requires companies to report annual fluctuations in the value of their funds. Martin Slack, senior partner at actuaries Lane Clark & Peacock, says FRS 17 allows companies to book a credit in their profit-and-loss accounts based on their investment return assumptions. Financial Times, 08 January 2005

IAS19 spreading options will slash risk incentives - LCP consultant Adam Poulson said: "Most UK firms will adopt the immediate recognition option, similar to FRS17 because most listed firms are now used to the concept of FRS17" Professional Pensions, 06 January 2005

The collective deficit of Britain's top 100 companies was £42bn at the end of July last year and 10 FTSE 100 companies had deficits in excess of 25% of their market capitalisations, according to Lane Clark & Peacock. Reuters, 05 January 2005

More pain than gain - LCP consultant Jeremy Dell said: "Companies set schemes up voluntarily based on the best information available at the time. Bailing out the employees of other companies was not part of the deal. It is not a satisfactory situation for the industry, on its own, to have to dip in to its pockets" Investment & Pensions Europe, 01 January 2005

One-man hybrids - LCP is to launch a defined contribution scheme that targets a specified level of pension benefits, which it likens to a single-member defined benefit scheme. Investment & Pensions Europe, 01 January 2005

IAS more in line with UK's FRS17 - LCP partner Alex Waite said: "We broadly welcome the IASB's new standard, allowing companies the scope to use an accounting policy in line with FRS17, which many companies have been expected to adopt. However, giving two fundamentally different options means that it will be harder to compare company accounts consistently without digging through the notes." Pensions Age, 01 January 2005

Cross border cruising - According to LCP senior consultant Bill Birmingham, you would think that most schemes already comply with certain requirements of the European Council Directive on occupational pensions. Pensions Age, 01 January 2005

Practices made perfect - LCP has launched two specialist practices aimed at advising trustees and corporate sponsors of pension schemes. Pensions Age, 01 January 2005

Red tape - delegates at a conference held by Lane Clark & Peacock said the Pensions Act had failed to simplify the rules. Real Finance, 01 January 2005

Leading pensions actuary LCP is to launch two specialist practices designed to assist trustees and corproate sponsors of pension funds. Engaged Investor, 01 January 2005

LCP has appointed David Everett as partner and head of pensions research. Actuary, 01 January 2005

Pension fund management and accounting - The approach adopted by IASB attracted different views from actuarial consultants. Lane Clark & Peacock criticised the potentially very different treatments by companies of pensions costs. Actuary, 01 January 2005