Setting a destination and planning a journey for a DB pension scheme can be challenging at the best of times, and this year has certainly not been plain sailing.
Our report is focused on practical steps to help you chart the course of your own scheme. We include analysis from our recent survey and from our risk profiling tool LCP Sonar to give an overview of the current challenges facing schemes; and our case studies bring to life potential solutions.
In current times we face a lot of uncertainty including financial markets, sponsor covenants and the funding and investment code that The Pensions Regulator will eventually put in place. With so many questions and few answers, it’s very easy to get caught in inertia, one of the biggest risks for schemes in today’s stormy seas.
Our interactive report will help you to navigate the issues facing your scheme today, as well as plan to overcome the risks of tomorrow, by setting out a six-point journey plan which will help schemes:
- Determine your destination
- Understand the risks
- Assess the covenant strength
- Set a suitable investment strategy
- Fund your liabilities
- Develop the governance framework
Where you see icons of a rowing boat, cruise ship and tanker in the report, click them to open case studies, action plans and key considerations tailored to those scenarios.
Chart your own course through the report to build a detailed, fit-for-purpose action plan for your scheme, tailored to your own unique position to reach your ultimate destination. Your journey may not look exactly like your plan but knowing what’s on the map will allow you to navigate more confidently.
Spotlight on all risks
LCP Sonar, our risk profiling tool, benchmarks your scheme against other pension schemes, covering covenant, funding and investment risks. You can quickly see how your scheme’s risk profile compares to others and think about the key risks for you.Discover more
How we can help
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.
We are market leaders at each stage of de-risking, including planning, investment strategy, transactional services and wind up.
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.
We help you get your investment strategy right to ensure good member outcomes in your DB and DC schemes.
We help make governance simple and effective so that you can make decisions and act on opportunities quickly.
We help pension scheme trustees and sponsors to determine the ultimate destination for their scheme and help them put together a plan to get there, including how to effectively manage the risks they face along the way.
We help trustees achieve their strategic goals, with solution-led, appropriate advice.