Strategic
journey planning and risk management
Pensions & benefits
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.
Shifting GEARS
Key stages to success
Our new hub contains all the resources you need in one place to design, implement and evolve your strategic journey plan.
Explore the hubHow 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.
- Webinar: The new DB funding code – the good, the bad and the (potentially) ugly (Jan 2023)
- Webinar: The new DB funding code – a whole new world for covenant advice (Jan 2023)
- New Funding regime - Covenant action list for trustees
- New DB Funding regime - action list for trustees
- New DB Funding regime - action list for sponsors
- Trustee priorities for 2023: A roadmap for success
- Strategic journey planning framework
- Diversity, equity and inclusion: A recipe for an effective pension scheme
Our advice is supported by our innovative technology, such as LCP Visualise, helping you to make better decisions in less time. It 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.
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.
Explore our thinking
How we have helped our clients
Our Strategic journey planning & risk management experts
Our latest thinking
Pensions de-risking update - May 2023
In our latest de-risking update, read our analysis of market data and trends as we approach the half year point for 2023. Explore the dynamics of insurer pricing, the key structural features in the market, and why we remain positive about the direction of the market for schemes large and small.
Does your sponsor have the cash to implement its net-zero strategy?
In this blog, John explores the challenges that sponsors of DB pension schemes may face when adopting a net-zero strategy, and considers how trustees can incorporate ESG considerations into their assessment of covenant strength.
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.
Contingent funding approaches are rapidly becoming more widespread. They can be a great way to protect member benefits as well as the shareholders and other creditors of the sponsoring employer.
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 trustees understand and monitor the employer covenant.
The deadline for pension schemes to be dashboard ready is getting closer. LCP can help trustees or scheme managers get pensions dashboard ready.
We help you get your investment strategy right to ensure good member outcomes in your DB and DC schemes.
LCP LifeAnalytics is a unique tool that allows you to measure the longevity risk in your pension scheme.
We help companies manage and mitigate their pensions risks and costs.
We advise on all aspects of management and design of health and well-being employee benefits package.
We help trustees achieve their strategic goals, with solution-led, appropriate advice.