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 pension risk transfer industry experts. We can help on the whole journey, from designing pensions endgame 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.

Navigating demand and supply in the buy-in and buy-out market

Our pension risk transfer report reveals that market dynamics have broadly stabilised as market volumes reach what we view as 'cruising altitude'. We explore regulatory, market and industry developments, insurer pricing, and why the question for most schemes is 'when' not 'if' they move to insurance.

Read the report

Watch our webinar
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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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

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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Your goals and your members’ experience are at the heart of everything we do

LCP's experience in lead transaction adviser role

Deals over £100m in the last decade

130+ buy ins/outs

Over 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

Take a market-leading approach

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 pension 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 for buy-ins and buy-outs means even the smallest schemes can have confidence in a successful process.

Largest ever single buy-in transaction

£6.5bn

RSA Insurance Group
Largest ever full scheme insurance

£7.5bn

British Steel Pension Scheme
Largest ever volume of buy-ins

£10bn

ICI Pension Fund

Why LCP?

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 pension 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 endgame strategy, 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.