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Michelle Wright

Michelle Wright
Partner & Head of Trustee Consulting

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orangecross Michelle.Wright@lcp.uk.com

As Head of LCP Trustee Consulting, I have responsibility for ensuring that LCP remains at the forefront of innovations in advice, thinking and technology for the benefit of our Trustee clients.

Day-to-day, I am a Scheme Actuary and Partner in our longevity de-risking practice. I have particular expertise in establishing effective and joined-up funding and investment strategies, and in helping my clients to design and implement long-term strategic journey plans.

I advise the trustees and companies of some of the UK’s largest pension funds, helping them to understand, prepare for, and implement longevity hedging strategies through the use of buy-ins, buy-outs and longevity swaps. My focus on designing optimal risk reduction strategies led me to develop the idea for our longevity risk-measurement tool, LCP LifeAnalytics.

I have led a number of innovative and complex transactions, ranging in size from £50m to over £3bn. You can read about how we helped the ICI Pension Fund here. I have specialist experience in PPF+ cases, collateralised buy-ins and full buy-ins/outs, which I have led both as a de-risking specialist and scheme actuary.

I focus on clear communication and working collaboratively with all stakeholders to develop bespoke solutions that meet the objectives of all parties.

Example transactions include:

  • FTSE 100 - £300m full buy-in (2018)
  • PA Pension Scheme - £850m full buy-in, for which I was also Scheme Actuary (2018)
  • Marks and Spencer - £1.4bn buy-ins (2018)
  • 3i - £200m and £100m pensioner buy-ins (2017 and 2019)
  • ICI - 9 x collateralised pensioner buy-ins totalling £7bn (2014 to 2016)
  • MIRA - £70m PPF+ buy-out, for which I was also Scheme Actuary (2015)
  • Northern Bank Pension Scheme - £680m collateralised pensioner buy-in (2015)
  • First Quench - £160m PPF+ buy-out (2013)
  • Uniq - £830m PPF+ buy-out (2011)
  • GSK - £900m collateralised pensioner buy-in (2010)

Thank you for the professional way in which you steered us through this complex project. Your advice was robust and clearly communicated, helping us to achieve an excellent outcome for our scheme and its members. As I have said a number of times, I wouldn’t expect anything less from LCP!

LCP Client

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How I have helped our clients

ICI: a £10bn de-risking blueprint

How we helped one of the largest DB pension plans in the UK, ICI Pension Fund, progressively insure their longevity risk using innovative umbrella contracts

Related publications

How I can help

Actuarial advice

We provide individual and high quality actuarial advice, taking a collaborative approach between trustees, employer and advisers, to ensure a focus on good member outcomes.

Meet some of our experts
Buy-ins, buy-outs and longevity swaps

We are market leaders at each stage of de-risking, including planning, investment strategy, transactional services and wind up.

Meet some of our experts
LCP LifeAnalytics

LCP LifeAnalytics is a unique tool that allows you to measure the longevity risk in your pension scheme.

Meet some of our experts
Pensions strategy

We work closely with our clients to understand their pension scheme objectives and implement effective and creative strategies to achieve them.

Meet some of our experts