Pensions & benefits

Pensions administration

Pensions administration isn’t a box-ticking exercise; it’s the crucial element in making sure that the right person gets the right benefit at the right time.

Our PASA-accredited pensions administration team combines technology and talented people to provide a high-quality, member-first approach to pensions administration. We believe in ‘right, not rushed’, using our bespoke administration system to efficiently administer members’ benefits – all while providing a responsive and highly experienced team should a member need it.

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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Pulse

Our in-house administration software provides trustees with real time administration management information (client dashboard) and members with an interactive website that provides access to modelling tools, their data and correspondence (member web).

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Accounting for pensions

Making the most of multi-billion £ pension surpluses

Our annual accounting for pensions report presents a concise analysis of the pensions facts, figures and trends revealed by FTSE100 companies reporting in 2023.

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Contingent funding handbook

Contingent funding solutions for DB pension schemes can be a great way to protect member benefits, as well as other stakeholders of the sponsoring employer. It is therefore very important for both sponsors and trustees to understand the range of options available.

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We provide administration services to schemes of all sizes – our clients and members benefit from innovative solutions, which make high-quality administration a reality.

Our unique Client Dashboard provides trustees with transparent live administration reporting. Trustees can obtain the information they want, whenever they want. Being able to see active cases, membership activity, member feedback and financial reporting is a game changer for trustees, who can access meaningful real-time information online.

An integrated and efficient service

We work as one team with other departments in LCP to make sure you get an efficient and joined-up service. Our in-house platform is integrated with our actuarial and investment systems, and as it’s our own software we can add functionality quickly to meet your specific needs.

We continually make sure we’re adding value to our service. We work closely with our Data Services team on projects to help improve your data, putting you in a better position for de-risking and other exercises, and with our colleagues in our Pension Risk Transfer and Post-transaction teams, to ensure a smooth and seamless experience for your members right the way through your pension scheme journey.

Better informed members

As well as our Client Dashboard, we provide intuitive online tools for members, allowing them to view and amend their own data, view payslips and other correspondence, accurately model their retirement benefits and view their current transfer value. This powerful tool allows members to understand their benefits better and make more informed decisions.

Breadth of experience and knowledge

We have over 170 people in the department, 95% of whom have completed or are working towards appropriate professional qualifications. Members can therefore be confident that a knowledgeable and professional person is always at the end of the phone or an email; we don’t outsource to call centres.

Ensuring a smooth transition

We know that changing administrators can feel like a big task, and we spend a lot of time and care on making the transition easy and seamless for both trustees and members. We have a dedicated transition team, who adopt a rigorous and well tested transition process based on Prince2 project methodology, ensuring a successful go-live from day one.