LCP Exit Policy for Pensions Administration Services

Information on LCP's Exit Policy for Pensions Administration Services.

Lane Clark & Peacock LLP (“LCP”) is committed to continue providing a high-quality service to our clients on receiving notice of a termination of our pensions administration services. We are a corporate member of Pensions Administration Standards Association and agree to abide by the Code of Conduct on Administration Provider Transfers (the “PASA Code”) as a condition of membership.

Our commitment 

Upon receiving notification of the termination of our pensions administration services and the successor administrator’s requirements to implement the scheme, LCP will provide a draft Exit Agreement to the trustee. LCP will aim to do so within 15 working days. The Exit Agreement should allow for the orderly handover of services with the minimum of interruption and inconvenience to the trustee, the scheme and its members. This Exit Agreement will be based on LCP’s standard exit agreement and agreed with the trustees. 

LCP's standard Exit Agreement meets the requirements of the PASA Code, and includes details of:

• The terms on exit, including the stated responsibilities of the trustees and LCP. 
• Scope of services covered and the timescales agreed between LCP and the successor.

• Fees, including any additional out of scope charges and the charge rates applied.

All the information and meetings required for a successful handover will be provided within a reasonable timescale without undue delays and with minimal disruption to the ongoing administration service during the notice period and for up to 3 months after the transfer date.