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Strategic
journey planning and risk management

Pensions & benefits

Trustees and sponsors of DB pension schemes aim to chart a clear course towards their ultimate goal – whether it’s a buy-out, self-sufficiency, or consolidation. We can help you achieve this by crafting an optimal strategic plan to navigate this journey, meticulously managing the risks and steering your scheme to its desired endgame. 

Your journey towards your pension scheme’s endgame has unique challenges and potential risks. At LCP we’re experienced in designing and implementing strategic plans that meet your scheme's individual needs. 

We work closely with our clients, understanding their long-term objectives to provide innovative and bespoke solutions. An integrated approach, and close understanding of your pension scheme dynamics, forms the core of our risk management strategy and is the best way to achieve success. 

LCP GEARS: A robust and dynamic approach 

Take a look at our hub, a comprehensive resource centre designed to guide the evolution and implementation of your strategic journey plan. The hub is built around our LCP GEARS framework, which has been developed to help you shift your journey planning discussions into action effectively. 

G - Get the right governance structure in place – Effective decision making is the cornerstone of a successful pension scheme journey. 

E - Establish your endgame and timescales - Your long-term objectives and target timescales set the intended direction and speed of your journey. 

A - Analyse what could change your journey - Stay one step ahead of the game, assessing and understanding the potential risks and opportunities, so that you have a plan in place for all eventualities. 

R - Refine the steps you plan to take to reach your goals - Adjust your path as necessary, making certain the route aligns with your end destination. 

S - Steer your journey dynamically and in a joined-up way - Offering a dynamic, integrated approach to help you navigate towards your endgame. 

LCP Assure

LCP Assure

Helps small pension schemes to develop a strategic journey plan for a cost-efficient buy-out and wind-up.

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How we can help

You can have confidence you will make effective decisions that are right for your schemes and members, supported by our service. You will have rounded advice and confidence you will both capitalise on opportunities and protect against key risks, supported by specialist teams. Our experts all collaborate under one roof to provide holistic strategic journey planning and pension risk management advice. They span a broad range of areas including covenant, funding, investment, longevity de-risking, liability management, member choice, consolidators and governance. 

Our tried and tested approach extends beyond setting and documenting strategic objectives for your pension scheme. You will have the tools, advice, and understanding to monitor and achieve your objectives.  

Additionally, we facilitate collaboration between trustees and sponsors along with their respective advisers, for example by designing and leading interactive strategy workshops to achieve the best outcomes. 

Combining technology with a people-centred approach 

Our innovative technology, including LCP Visualise, helps streamline decision-making. It enables you to chart progress on your pension scheme’s journey over time, manage risks in an integrated way, and provide a comprehensive 'integrated risk management' dashboard – giving you all the critical information you need at your fingertips.  

Our LCP Advance service, frames decisions and advice around our integrated risk management dashboard designed to monitor and guide your pension scheme's journey towards its endgame. With a tailored dashboard featuring clear metrics for quick opportunity and risk assessments, it streamlines decision-making and helps you to focus on your key priorities.

LCP Advance fuses technology and expert advice, facilitating efficient decisions centred around your scheme's endgame, ultimately aiming to deliver a well-governed and cost-effective journey.

Resources

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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 journey planning, investment strategy, transactional services and wind up.

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.

We help trustees and sponsors of pension schemes understand and manage the costs, risks, timeframes, and opportunities associated with different pensions endgame strategies.

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

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If you would like to know more about our services and how we can help you with pensions and benefits.

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