Pensions & benefits

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 keep our clients updated on the implications of ever-changing pension regulation to take well-informed decisions.  

We work with key individuals across Finance and HR departments to ensure that: 

  • the benefits provided to current employees fit and are relevant, 
  • the pension benefits promised to previous employees are paid and managed appropriately, 
  • any spend on pension represents good value for money.  

Our clients tell us that they value working with LCP as we take the time to understand their business and their objectives which we reflect throughout our advice.  In addition to day to day contacts we know clients appreciate access to specialists when they need it most and our team will happily introduce the right person to make sure advice fully reflects the latest thinking.  LCP's success has been built on the strength of the relationships we develop with our corporate clients.  We focus on bringing you the ideas that are relevant and add genuine value to your business and your shareholders so you only need to focus on what matters. 

Responsible Investment Survey 2022

Responsible Investment Survey 2022

Raising the bar - Expectations of investment managers are higher than ever

Read our latest RI survey, which will help you to oversee how your investment managers are implementing RI on your behalf.

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How we can help

Our experience tells us that while there are consistent or common issues, every client needs an individual solution to suit their particular circumstances – even within the same industry two clients will face very different issues based on their culture, history and market position.  The Covid-19 pandemic has shown this more clearly than ever and highlighted the risk of the unknown unknowns.  Working with employers to understand their objectives, the relationship with shareholders, scheme trustees and other stakeholders allows us to create and deliver an effective and efficient pensions strategy.   

Our advice is clear and communicated in plain language to help you make difficult decisions for your business in what is a complex and rapidly evolving technical area.  Some areas we’ve been talking to companies about recently include: 

  • Contingent funding: given competing demands for cash and concerns around money being “trapped” in pension schemes, we’ve been helping companies investigate and implement various contingent funding arrangements. These arrangements provide the pension scheme with security whilst not depriving the sponsoring business of the money it needs to build and invest for the long-term. 
  • Corporate governance: following the introduction of new powers for the Pensions Regulator in the Pension Schemes Act 2021 (including new criminal offences), we’ve been providing training on the additional pensions risk to Company Boards. We are assisting clients to develop and update governance processes to ensure they quickly identify and manage these risks as part of the decision-making processes at Company Board level. 
  • Mergers and Acquisitions: with so much change in the markets, as well as changes in legislation, we’ve been helping companies consider their options and complete appropriate due diligence on pensions at every stage of the M&A process. 

As a result, we are helping our corporate clients to keep a rein on costs, meet their statutory duties, manage risks and deliver value for their benefit spend.   

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How we can help

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 trustees understand and monitor the employer covenant.

Whether to enter a DB Consolidator is a complex decision. Sponsors and Trustees must be sure it is the right decision for their scheme and its members. We can help.

We provide real time global consulting advice, with a single point of contact, through our team of international experts and our global network of partner firms

Our tax tools help you communicate the latest tax changes to your employees in a straightforward way.

Liability management exercises can be an effective way for pension scheme sponsors to manage costs and risks, whilst also providing valuable options and information to pension scheme members.

We provide expert practical advice on the pensions issues involved when buying or selling businesses.

We work with you and your finance team to ensure that your ongoing statutory duties and compliance exercises are done quickly, efficiently and accurately.

Get in touch.

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

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