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Pensions & benefits
Pension risk transfer
When it comes to transferring pension risk there is only one chance to get it right.
Our clients have the confidence they're working with highly experienced, leading industry experts. We can help on the whole journey, from designing strategy, effective preparation, deal structuring and negotiation, and managing a seamless post-transaction process – whether that be for a buy-in, buy-out, superfund transfer or longevity swap.
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Expanding horizons
in pension risk transferIn our latest pension risk transfer update, we explore the market data, trends and regulatory developments that are shaping the expansion of the market and examine how schemes are responding to the opportunities available.
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Chart your own course
Taking control of your journey
Our sixth annual report is built around the results of our annual survey of the DB pension scheme market and provides insights across a whole range of areas of DB strategy and endgame planning.
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Unlocking mortality trends: A key to better outcomes
Our latest longevity report shares clear insights intro mortality trends and explains how rigorous assessments of mortality assumptions can lead to better outcomes for your pension scheme members.
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Future demand and supply in the buy-in and buy-out market
In our pension risk transfer report, we analyse the seismic shift in the buy-in and buy-out market in 2023 and how the market is adapting. We also look at how insurers are responding to accelerating demand and whether insurer pricing can persist at current attractive levels.
Your goals and your members’ experience are at the heart of everything we do
LCP's experience in lead transaction adviser role
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Deals over £100m in the last decade
130+ buy ins/outsOver 50% more than the next leading advisory firm -
Deals under £100m in the last decade
100+ buy ins/outs -
Buy-in/buy-out market share in 2023
28%by volume -
Buy-in/buy-out market share in 2022
45%by volume
As funding positions improve, more schemes are looking to insurance. As market volumes reach record levels, insurers are increasingly selective over which transactions they participate in. It’s more important than ever that to partner with an experienced risk transfer adviser, who can achieve traction in a busy marketplace and deliver the best outcomes for scheme members and other stakeholders.
LCP consistently advises on more transactions than any other adviser – from schemes of a few £m to the largest deals in the market. This gives us unparalleled visibility of pricing, terms and structuring innovations, and practical knowledge to ensure a smooth process.
We leverage our strong, trusted relationships with insurers and reinsurers, to ensure our clients receive strong engagement. Our tried-and-tested streamlined process means even the smallest schemes can have confidence in a successful process.
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Largest ever single buy-in transaction
£6.5bnRSA Insurance Group -
Largest ever full scheme insurance
£7.5bnBritish Steel Pension Scheme -
Largest ever volume of buy-ins
£10bnICI Pension Fund
Well-resourced team
Our experienced and committed 60-strong core transaction team has the capacity to deliver your transaction within your desired timescales.
Strong relationships
Our proven track-record for well-run deals increases the chance insurers participate and prioritise your scheme.
Highly effective transactions
Deep experience, combined with strong project management, will ensure a smooth process with exceptional pricing and terms.
Specialist adviser
We slot in seamlessly with existing teams, providing unbiased advice with a sole focus on achieving your risk transfer objectives.
Insurer-side experience
Our team includes people who have held senior positions at insurers and reinsurers, as well within insurers’ administration teams. Their knowledge and personal insights are embedded within our transaction processes.
A joined-up, multi-disciplinary team
We work closely with other LCP specialists to provide you with holistic end-to-end advice, covering data services, longevity modelling, post-transaction support, and member communications, as well as comprehensive due diligence on insurer financial strength, ESG credentials and administration capabilities.
Our latest market insights
Client stories
Get in touch
If you would like to know more about our services and how we can help you with pensions and benefits.
