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
Pensions & benefits
journey planning and risk management
We help pension scheme trustees and sponsors to determine the ultimate destination for their scheme – be that buy-out, self-sufficiency or a consolidator – and help them put together a plan to get there, including how to effectively manage the risks they face along the way.
The choices and the journey will be unique from scheme to scheme. We’re independent, so we don’t sell products, or a “one size fits all” pensions strategy. Instead, we work closely with our clients to understand their objectives and put together creative solutions to achieve them, only suggesting things we believe are relevant to you.
Effective, joined-up risk management, embedded in a thorough understanding of the full dynamics of that scheme, is essential to maximise the chance of getting to the desired destination and, ultimately, results in better decisions and outcomes for members.
Our approach is also consistent with the changes afoot on funding regulation and the direction of travel we see from the Pensions’ Regulator including its thoughts on Integrated Risk Management and setting Long Term Funding Targets.
Chart your own course
How to navigate your pensions journey
In this report we analyse pension scheme approaches to risk and set out a blueprint for trustees to navigate the journey to securing member benefits.Download now
How we can help
We support trustees and sponsors to confidently make the decisions that are right for their schemes and members. Our advice draws on support from our specialist teams, as needed, all working together as one team under one roof to give holistic advice, tailored for you. Our specialist teams include covenant, funding, investment, longevity de-risking, liability management and member choice, consolidator and governance experts.
We can help you to set and document appropriate strategic objectives for your scheme and will equip you with the tools, advice and understanding to monitor and meet them. Our approach involves pulling together key investment and funding decisions, set within a robust understanding of the sponsor’s covenant to the scheme. We encourage collaboration between trustees and sponsors and their respective advisors to achieve the best outcome for their schemes, for example through designing and facilitating interactive, strategy workshops.
- LCP Sonar, our risk profiling tool, enables you to see at a glance the key risks facing your scheme. It is based around our 10-key risk framework which makes thinking about risks more accessible and intuitive than before.
- LCP Visualise enables you to track progress on your scheme’s journey over time. It helps trustees and sponsors manage risks in an integrated way and can support a regular “integrated risk management” dashboard, bringing together all relevant information on one page. (insert link)
Our Chart your own course report, looks at all aspects of journey planning and risk management and offers practical insights into actions trustees can take to manage their long-term journey effectively.
How we have helped our clients
How we designed a comprehensive contingency planning framework addressing covenant, funding and investment risks, inspired by LCP Sonar.
How we refreshed and reinvigorated our client’s approach to managing their integrated covenant, investment and funding risks, using LCP Sonar.
Our Strategic journey planning & risk management experts
Our latest thinking
In this blog, Dan Mikulskis asks how well you have TESTED the impact of your covenant on your investment strategy.23 August 2019
Following the Government’s 2018 White Paper, the Pensions Regulator (TPR) has been ramping up its guidance on how schemes should be funded and managed – the Annual Funding statements of 2018 and 2019 as well as more recent TPR blogs have clearly signalled a direction of travel toward a new world of DB pensions regulation and oversight.17 June 2019
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.Discover more
We are market leaders at each stage of de-risking, including planning, investment strategy, transactional services and wind up.Discover more
We help you get your investment strategy right to ensure good member outcomes in your DB and DC schemes.Discover more
LCP LifeAnalytics is a unique tool that allows you to measure the longevity risk in your pension scheme.Meet some of our experts
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