Covid-19
Insight in unprecedented times
Our viewpoint
Coronavirus (Covid-19) poses unprecedented challenges to economies across the world. How is this impacting the world of business? In a situation that is changing every day how do you know what action you should be taking and when?
Our dedicated hub will provide up to date thinking on how Coronavirus (Covid-19) is impacting the market across all our business areas. It is designed to give expert reaction on the latest developments and what they might mean in the short and longer term as well as giving practical advice about dealing with challenging times.
Our hub is divided into three areas; Pensions & benefits, Investment and Insurance. We are regularly updating our hub with expert insight and opinion.
Pensions & benefits
For both trustees and sponsors, Covid-19 poses significant risks and challenges. With the regulatory focus being on long term planning how should pension schemes adapt to this unanticipated event?
2020 pension scheme valuations: An action plan for trustees
Our action plan is intended to help trustees who are starting or in the early stages of a valuation work through the actions they need to consider in the key areas of governance, covenant, investment and funding.
5 May 2020
More contribution deferrals mean “Switch on” mechanisms are becoming increasingly important
Why trustees and sponsors of DB pension schemes need to think creatively about ‘switch on’ mechanisms, after DB contribution deferrals.
Funding valuations in the current climate: Corporate Action Plan
Our action plan is intended to give a high-level overview of key areas for companies to consider as part of a current or upcoming funding valuation, in the context of the Pensions Regulator (TPR)’s 2020 Annual Funding Statement (AFS2020) as summarised in our recent News Alert. Specific priorities for different companies will vary depending on circumstances.
4 May 2020
TPR keeps up pressure on schemes over future funding despite COVID-19
TPR is still expecting pension schemes to get a fair share of available cash despite the current crisis
Regulator publishes its annual funding statement 2020
News Alert: Today the Pensions Regulator issued this year’s funding statement setting out its key messages for trustees and sponsors who are undertaking DB valuations at the current time.
TPR’s 2020 Annual Funding Statement – Continued focus on a fair share of cash
In this blog, Jon Wolff examines what the new Annual Funding Statement released by The Pensions Regulator (TPR) today has to say.
Current crisis ‘could cause pension levies for some companies to treble’ – LCP
We found that the amount of money which some companies have to pay into PPF could rise threefold as a result of the current crisis.
Watch on demand: How are corporate sponsors tackling the current pensions challenges?
Access this webinar on-demand for a discussion on several pension and investment case studies sharing what companies have done in practice in relation to COVID-19, why they have done it, and what they are considering doing next.
What trustees should expect from their administrator during the COVID-19 crisis
What should trustees should expect from their administrator during the COVID-19 crisis?
Will Covid-19 stop my buy-in transaction in its tracks?
LCP's Ken Hardman reflects on what he thinks companies and trustees who are considering a major transaction should do, in light of Covid-19.
Taking care of both your people and your business in Covid-19
We explore the challenging decisions employers need to make around protecting valuable employees, without damaging their businesses in the long-term.
DB funding code in testing times. What next for sponsors and trustees?
Our webinar is an overview of the consultation and what it might mean in practice for your scheme.
Inside Insight with David Fairs
We discussed the latest on the DB Funding Code and how Covid-19 might impact it with TPR's David Fairs.
What to do if you have a valuation right now
What are the do's and dont's around valuations during this time of COVID-19 uncertainty?
Help without helplines
We discusses some steps you can take to help ease your DC members worries during COVID-19.
New emergency Covid-19 guidance from the Pensions Regulator – some helpful concessions
An analysis of the latest guidance from the Pensions Regulator around DB funding and transfer values in the wake of Covid-19
Helping your members make sensible pension decisions during Covid-19
How can schemes protect their members against scammers during the Covid-19 crisis?
Navigating choppy waters - can funding flexibilities help sponsors find calm in the storm?
Can pausing deficit contributions help sponsors find calm during current volatile times?
Corona crisis: Some company balance sheets are going to be hit hard by pensions
Exploring the accounting challenges for corporates during these times of uncertainty.
Global Covid-19 storm blows pension schemes onto a new course
How will DB schemes and their sponsors be impacted in these turbulent times?
‘Urgent clarity’ sought from regulators over pension scheme funding - Covid-19
The financial disruption caused by Covid-19 has caused a painful set of asset and liability shocks to DB schemes. But the most pressing issue for schemes is the potentially significant impact of the crisis on the viability of sponsoring employers according to LCP partner, Steven Taylor.
Navigating uncertain times: An action plan for trustees
The COVID-19 pandemic shows how unanticipated risks can throw even the best laid plans off track. The effects on schemes will be very wide ranging. Our action plan gives some practical advice about what to do.
18 March 2020
Managing the impact of Covid-19: An action plan for companies
We appreciate that our corporate clients have a lot on their plate – which is why we have produced this quick action plan to help you prioritise what you need to do in relation to your company pension arrangements
19 March 2020
Managing the Covid-19 pandemic: A trustee action plan for DC schemes
This action plan summarises some key considerations and actions for trustees of DC schemes to help you understand the impact on your scheme and members.
1 April 2020
Investment
In a volatile global economy, getting your investment strategy right is vital. How can you ensure your strategy isn’t blown too far off course by the current headwinds?
Investment Uncut - Forecasting in volatile times with Natalie Brain
Hosts Dan Mikulskis and Mary Spencer sit down with Natalie Brain, investment consultant and member of LCP’s macro team and talk about revising economic forecasts after an extreme shock, like the one we’re currently experiencing.
29 April 2020
Investment Uncut - Investing through Covid-19 with Matt Gibson
Hosts Dan Mikulskis and Mary Spencer put some of the key questions that fund allocators will have to Matt Gibson, LCP's head of investment fund manager research, Matt Gibson and discuss some of the key themes in Matt’s team’s discussions with managers over the latest, eventful quarter:
22 April 2020
Why most UK pension schemes had too much risk going into the COVID-19 crisis
Various approaches for trustees to take during COVID-19 as well as the benefits and issues on taking alternative linear de-risking approaches.
Dramatic swings in yields – keep a close eye on hedging strategies
Trustees and sponsors should review their hedging strategies during volatile markets.
Investment Uncut - Coronavirus and forecasts with Natalie Brain
This week on Investment Uncut hosts, Mary Spencer and Dan Mikulskis, speak to Natalie Brain – a member of LCP’s macro committee. They discuss Coronavirus, capital market views, equity asset classes, credit asset classes, real assets, most underappreciated thing about investing, recommendations good articles, blogs, books, series (work/non work related).
COVID-19: Key investment considerations
In this update, we provide a summary of the impact on the global economy and financial markets so far, cover the response from policymakers and set out some key investment questions that we are encouraging our clients to consider.
18 March 2020
Insurance
Covid-19 is impacting the insurance industry as business risk and claims increase. What are the key strategies to adopt and issues to consider?
How will Covid-19 impact social inflation?
Social inflation has been a hot topic recently, but how does Covid-19 affect social inflation?
Whiplash reform becomes the latest Covid-19 casualty
What are the effects on the industry of motor insurance whiplash reforms being delayed to April 2021 due to Covid-19?
Covid-19 reporting for insurers
What does EIOPA’s recommendation that firms publish details of the effect of Covid-19 on their SFCR disclosures mean for firms' upcoming reporting?
Coronavirus - a travel insurance perspective
What is the potential impact of Covid-19 on travel insurance?
PRA to follow EIOPA's Solvency II reporting recommendations in wake of COVID-19
The PRA will follow EIOPA's lead in adapting insurer reporting recommendations in wake of COVID-19
EIOPA announces flexibility on Solvency II reporting deadlines in wake of COVID-19
EIOPA recommendations around flexibility on Solvency II reporting and disclosure deadlines due to COVID-19
A motor insurance perspective on Coronavirus
Has COVID-19 put the motor insurance industry on life support?
How we are dealing with the risks associated with the Coronavirus
Business continuity at LCP
The welfare and safety of our people, clients and contacts is of paramount importance to us. Click for more information about how we are maintaining service and looking after our people during the Coronavirus outbreak.
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