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Michelle Wright

Partner and Head of Pensions Strategy

As Head of Pensions Strategy at LCP, I have responsibility for ensuring that we remain at the forefront of innovations in advice, thinking and technology for the benefit of our DB clients.

Day-to-day, I am a Scheme Actuary and a senior partner in our pension risk transfer practice. I have particular expertise in establishing effective and joined-up funding and investment strategies, and a passion for helping my clients design and implement long-term strategic journey plans.

I advise the trustees and companies of some of the UK’s largest pension funds, helping them to understand, prepare for, and implement longevity hedging and endgame strategies. My focus on designing optimal risk reduction strategies led me to develop the idea for our longevity risk-measurement tool, LifeAnalytics.

I have led a number of innovative and complex transactions, ranging in size from £50m to over £3bn. You can read about how we helped the ICI Pension Fund here. I have specialist experience in PPF+ cases, collateralised buy-ins and full buy-ins/outs, which I have led both as a de-risking specialist and scheme actuary.

I focus on clear communication and working collaboratively with all stakeholders to develop bespoke solutions that meet the objectives of all parties.

I am also one of LCP’s spokespeople for pension scheme de-risking (buyouts & longevity) and trustees - you can contact me directly on +44 (0)20 7432 3073.

Example transactions include:

  • British American Tobacco - £3.8bn pensioner and deferred pensioner buy-ins (2019 and 2021)
  • Commonwealth Bank of Australia - £420m full buy-in (2021)
  • 3i - £ 3 x pensioner and deferred buy-ins totalling £950m (2017 to 2020)
  • FTSE 100 - £300m full buy-in (2018)
  • PA Pension Scheme - £850m full buy-in, for which I was also Scheme Actuary (2018)
  • Marks and Spencer - £1.4bn buy-ins (2018)
  • ICI - 9 x collateralised pensioner buy-ins totalling £7bn (2014 to 2016)
  • MIRA - £70m PPF+ buy-out, for which I was also Scheme Actuary (2015)
  • Northern Bank Pension Scheme - £680m collateralised pensioner buy-in (2015)
  • First Quench - £160m PPF+ buy-out (2013)
  • Uniq - £830m PPF+ buy-out (2011)
  • GSK - £900m collateralised pensioner buy-in (2010)

Thank you for the professional way in which you steered us through this complex project. Your advice was robust and clearly communicated, helping us to achieve an excellent outcome for our scheme and its members. As I have said a number of times, I wouldn’t expect anything less from LCP!

LCP Client