Pensions & benefits

Chart your
own course: Navigating the pensions journey

A scheme’s long-term funding target is key, however the journey can be equally important and should be planned and managed well to maximise the chance of success. 

Our new report sets out a blueprint for trustees to navigate their journey.

We look at practical steps trustees can take including:

  • Using a full understanding of the covenant to shape all key decisions.
  • Planning for uncertainty in a volatile world, developing a dynamic long-term target and strategic journey plan.
  • Keeping the focus on key risks and planning for what happens if they emerge.
  • Adopting governance structures that support nimble decision-making to maximise the scheme’s chance of success.
  • Being prepared for changes in the UK regulatory regime and making sure the chosen approach will be fit for purpose in the new world.

We also give insights on how LCP clients manage their risks, based on data underlying our risk profiling tool LCP Sonar and on various case studies.

Wherever your scheme stands on its journey, it will be in a unique position. Now more than ever, informed decisions and clear advice which brings together investment, funding and covenant elements, is essential in ensuring you can weather a pension storm.

To assess your current approach to managing risk, you could complete the detailed checklist included in the report, or you can ask your LCP contacts, or one of our risk management experts to show you how your scheme stacks up on LCP Sonar.

Our report is the first piece in our “Chart your own course” series aimed at helping trustees through the pension scheme journey in order to deliver better outcomes for members. Watch out in coming months for further LCP material which will include how to navigate the new guidance awaited from the Pensions Regulator.

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How we 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.

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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.

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Strategic journey planning and risk management

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

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Investment strategy

We help you get your investment strategy right to ensure good member outcomes in your DB and DC schemes.

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Trustee consulting

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

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Scheme governance

We help make governance simple and effective so that you can make decisions and act on opportunities quickly.

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