Chart your
own course 2019: Navigating the pensions journey
Publications
A scheme’s long-term funding target is key, however the journey can be equally important and should be planned and managed well to maximise the chance of success.
For the latest 2022 Chart your own course report click here.
Our 2019 report sets out a blueprint for trustees to navigate their journey.
We look at practical steps trustees can take including:
- Using a full understanding of the covenant to shape all key decisions.
- Planning for uncertainty in a volatile world, developing a dynamic long-term target and strategic journey plan.
- Keeping the focus on key risks and planning for what happens if they emerge.
- Adopting governance structures that support nimble decision-making to maximise the scheme’s chance of success.
- Being prepared for changes in the UK regulatory regime and making sure the chosen approach will be fit for purpose in the new world.
Wherever your scheme stands on its journey, it will be in a unique position. Now more than ever, informed decisions and clear advice which brings together investment, funding and covenant elements, is essential in ensuring you can weather a pension storm.
Our report is the first piece in our 'Chart your own course' series aimed at helping trustees through the pension scheme journey in order to deliver better outcomes for members. Watch out in coming months for further LCP material which will include how to navigate the new guidance awaited from the Pensions Regulator.
Chart your own course
A tale of two journeys
In this report, we address the issues that pension schemes are facing today, provide tips on how to overcome them and prioritise different steps depending on your scheme’s position.
Read the reportHow 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 you get your investment strategy right to ensure good member outcomes in your DB and DC schemes.
We help make governance simple and effective so that you can make decisions and act on opportunities quickly.
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.