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Covenant
consulting

Pensions & benefits

We help trustees and sponsoring employers understand the covenant supporting their pension scheme.

Understanding a scheme’s employer covenant is fundamental and should underpin any decisions relating to investment, funding, strategic advice, risk management and journey planning. Covenant strength can change quickly and significantly which can be triggered by a range of events, such as changing market dynamics, corporate or scheme restructurings, transactions, or fluctuations in trading performance.

We also help our clients understand the new risks that have arisen from Pension Schemes Act 2021 - see here for more information.

Chart your own course

Chart your own course

Shifting gears

This report gives trustees the tools to set and navigate a DB scheme’s strategic journey plan in the light of the latest developments in the DB landscape.

Read the report

How we can help

We help our clients understand their covenant. As well as undertaking triennial covenant reviews to support actuarial valuations, we provide proportionate and insightful monitoring solutions, advising on covenant support in the context of funding strategies, investment exposure and the latest regulatory environment.

We also help our clients with a wide range of additional covenant support, from understanding the impact of transactions and corporate events, to implementing non-cash funding solutions and undertaking reviews on PPF guarantee certifications. Our clients span across a wide range of industries, and are trustees, sponsors and private equity houses - this gives us unparalleled insight into different perspectives.

What sets us apart?

Collaborative, proportionate and pragmatic advice - this is what our clients tell us they value most.

We tailor our work to each client’s unique circumstances and provide clear views on complex topics in a form that is easy to interpret, supported by intuitive visuals. 

We are the largest covenant team in one of the UK’s largest pensions consultancies. This sets us apart - allowing us to give intergated and holistic advice on all key pensions matters. Our clients are further supported by our use of innovative technology, such as LCP Visualise, which provides funding, investment and covenant analytics and LCP Sonar, our risk management tool.

I have worked with Jon and the LCP covenant team on a number of cases and am consistently impressed with their ability to concisely set out the key issues and provide clear and understandable advice. LCP’s collaborative approach with trustees, sponsoring employers and advisers on both sides is a real feature of their proposition, which leads to positive outcomes for all parties.

Mark Fletcher, Client Director, Punter Southall Governance Services
LCP Sonar

LCP Sonar

Understand and prioritise your key pension scheme risks

Our dynamic risk profiling tool helps you to identify and prioritise risk management in an integrated way, as well as showing you how you stack up against others.

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Our latest thinking

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How we can help

We help sponsors of pension schemes understand and manage the costs and risks associated with supporting their current and legacy pension schemes as well as other employee benefits.

LCP Sonar, our dynamic risk profiling tool, helps you to identify and prioritise risk management in an integrated way, as well as showing you how you stack up against others.

We help both trustees and sponsors prepare for and deal with corporate change.

We work with you and your finance team to ensure that your ongoing statutory duties and compliance exercises are done quickly, efficiently and accurately.

We help clients identify, manage and monitor pensions risks in an integrated way.

We help trustees achieve their strategic goals, with solution-led, appropriate advice.

New TPR powers: what do you need to do now?

New TPR powers: what do you need to do now?

Webinar on-demand

We explore how the new TPR powers are already influencing company and trustee behaviour, using real case studies of where we have recently supported company and trustee boards to work through the impact.

Watch on-demand now