Pensions & benefits

We help trustees and sponsoring employers understand the covenant supporting their pension scheme.

Understanding a scheme’s employer covenant is fundamental and should underpin any decisions relating to investment, funding, risk management and journey planning. Covenant strength can change quickly and significantly which can be triggered by a range of events, such as changing market dynamics, corporate or scheme restructurings, transactions, or fluctuations in trading performance.

How we can help

We help our clients understand their covenant. As well as undertaking triennial covenant reviews to support actuarial valuations, we provide proportionate and insightful monitoring solutions, advising on covenant support in the context of funding strategies and investment exposure.

We also help our clients with a wide range of additional covenant support, from understanding the impact of transactions and corporate events, to implementing non-cash funding solutions and undertaking reviews on PPF guarantee certifications.

How we help trustees with their covenant

Collaborative, proportionate and pragmatic advice - this is what our clients tell us they value most.

We champion a collaborative approach between advisors, sponsors and trustees. We tailor our advice to each client’s unique circumstances and provide clear advice on complex topics in a form that is easy to interpret, supported by intuitive visuals. This allows all stakeholders to easily understand the information and engage in discussions.

Being part of one of the UK’s largest pensions consultancies, we are able to collaborate with our experts relating to all key pension matters, facilitating our ability to provide covenant advice in a holistic and integrated manner. Our advice is further supported by our use of innovative technology, such as LCP Visualise, which provides funding, investment and covenant analytics and LCP Sonar, our risk management tool.

I have worked with Jon and the LCP covenant team on a number of cases and am consistently impressed with their ability to concisely set out the key issues and provide clear and understandable advice. LCP’s collaborative approach with trustees, sponsoring employers and advisers on both sides is a real feature of their proposition, which leads to positive outcomes for all parties.

Mark Fletcher, Client Director, Punter Southall Governance Services

Our latest thinking

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How we can help

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.

LCP Sonar, our risk profiling tool, benchmarks your scheme against other pension schemes, covering covenant, funding and investment risks. You can quickly see how your scheme’s risk profile compares to others and think about the key risks for you.

We help both trustees and sponsors prepare for and deal with corporate change.

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

We help clients identify, manage and monitor pensions risks in an integrated way.

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

New TPR powers: what do you need to do now?

New TPR powers: what do you need to do now?

Webinar on-demand

We explore how the new TPR powers are already influencing company and trustee behaviour, using real case studies of where we have recently supported company and trustee boards to work through the impact.

Watch on-demand now