Pensions & benefits

Post-transaction and wind-up support

Our dedicated team provides strategic advice and project management support to successfully move schemes to buyout and wind-up.

Expanding horizons
in pension risk transfer

In 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

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.

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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.

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We provide structure and accountability to these multi-strand projects – coordinating stakeholders efficiently and offering practical solutions to any issues – allowing clients to focus on the important decisions relating to members’ benefits, treatment of any surplus and managing residual risks.

Our specialist post-transaction team brings detailed technical knowledge, a wealth of experience and strong relationships with all the insurers in the market to provide clients with the confidence that their wind-up is in safe hands.

Pension scheme wind-ups are complex processes and can be unchartered waters for many trustees and pension managers. As the last stage in a scheme’s journey, important, irrevocable decisions need to be made and it is the last opportunity to get it right!

LCP appreciates the importance of carefully managing this work, supporting trustees and sponsors in their decision making and ensuring that member experience is at the heart of the process. This is why we have a dedicated team of more than 25 experienced practitioners who focus on ensuring a smooth, efficient move to buyout and ultimate wind-up.

Our team is unique in its range of skills, depth of experience and robust project management capabilities. We have worked on nearly 100 wind-up projects for schemes ranging in size from £5m to more than £1bn.

We have developed strong relationships with all the insurer post-transaction teams in the market, understand their processes, and can work effectively with them to deliver better outcomes. Our clients benefit from increased insurer engagement, better understanding of challenging issues and a joined up, efficient, end to end service through to wind-up.

We start any project by understanding your objectives and working with all key stakeholders to agree a clear, actionable plan. This will cover setting up the operational processes for the buy-in, data cleanse activity, moving to buy-out, solutions for members’ other benefits, and completing the final wind-up tasks, as well as keeping members well-informed throughout.

We have a strong track record of working collaboratively with in-house teams and other advisers, so whether you are looking for an experienced specialist to provide strategic support to an in-house team or a dedicated project manager to take everything off your hands, we are happy to help.

We can also draw on the expertise of wider LCP services (eg data services, DC and our specialist trustee liability insurance broking team) to provide additional support to help ensure a successful outcome within desired timeframes.

We understand the importance of having in place appropriate protections for after the buy-out and wind-up. We have helped many clients to understand their options and to secure appropriate pension run-off and overlooked beneficiary insurance cover. We draw upon the expertise of our specialist broking team who are independent brokers and consultants, and in line with LCP practice, all broker commission is sacrificed so you can be confident that our advice is not influenced by potential sales commissions or inflated premiums.