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Pensions & benefits

Strategic
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.

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. 

Our advice is supported by our innovative technology, such as LCP Sonar and LCP Visualise, helping you to make better decisions in less time:

  • 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

ICI: a £10bn de-risking blueprint

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

Reinvigorating risk management

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

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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Covenant consulting

We help trustees understand and monitor the employer covenant.

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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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LCP LifeAnalytics

LCP LifeAnalytics is a unique tool that allows you to measure the longevity risk in your pension scheme.

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Risk and liability management

We help companies manage and mitigate their pensions risks and costs.

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Risk benefits consulting

We advise on all aspects of management and design of health and well-being employee benefits package.

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Trustee consulting

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

Trustee Consulting