All LCP articles – Page 2
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NewsBuyouts: Is a capacity crunch already here?
This year is set to be a bumper year for buyouts, but has the most bouyant sector of the pensions market reached saturation point?
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NewsLTA tax proposal is 'bombshell' for untouched pension pots
The government appears to be backtracking on the ability to inherit pension pots tax-free, according to LCP.
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NewsL&G completes £1.8bn buy-in of United Utilities schemes
Legal & General has completed buy-in with the trustees of two pension schemes sponsored by United Utilities, in a deal that covers around two thirds of their liabilities.
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NewsHammerson completes £90m BPA deal with Just
The £90m bulk purchase annuity transaction between Just and the Hammerson Group Management Limited Pension and Life Assurance Scheme was advised by LCP.
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NewsWhat is going on with the gender pensions gap?
June 2023 saw the welcome publication of the first official data on the gender pension gap. However, the official data has important omissions and needs careful interpretation if the right conclusions are to be drawn.
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NewsAnnuities: Sales surge as consumers trade flexibility for security
Sales of annuities have grown by more than a fifth (22%) during the first three months of 2023 according to data from the Association of British Insurers (ABI).
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NewsDerisking well funded DB schemes may be an opportunity missed
Employers should adopt a more ambitious approach to managing well-funded defined benefit (DB) schemes and see them as an opportunity, according to pensions experts.
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NewsLCP toughens up its ESG policies
LCP has launched a responsible investment philosophy designed to focus industry attention on concrete action to address systemic risks posed by issues such as climate change and inequality.
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NewsGovernment explores CDC decumulation schemes
On the go: The Department for Work and Pensions is exploring whether it could introduce legislation for decumulation-only collective defined contribution schemes, since these could help “improve member choice and outcomes”.
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NewsNew DB funding code could cost employers up to £34bn
The Pensions Regulator estimates that the defined benefit funding code could have a cost for employers of up to £34bn, which has prompted consultancy LCP to call on the government to give more time to sponsors to adjust to the new regime.
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NewsInterserve Pension Scheme agrees £400mn buy-in
On the go: The Interserve Pension Scheme has agreed a £400mn buy-in with Aviva, securing the benefits of more than 7,000 members.
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NewsBank of England raises interest rates to 3.5%
On the go: The Bank of England has raised interest rates by 0.5 percentage points.
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NewsHalf of defined benefit schemes now closed to future accrual
Fifty per cent of defined benefit schemes are now closed to future accrual, according to new figures from the Pensions Regulator.
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NewsExperts estimate £500bn in assets are ‘missing’ after LDI crisis
Around £500bn in pension scheme assets are “missing somewhere” as a result of the liability-driven investment crisis, the Work and Pensions Committee has been told, with experts also questioning the role of leverage in these funds and the need for more guidance from regulators.
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NewsTwo-fifths of sponsors uncertain on accounting for Covid-19
On the go: A significant proportion of defined benefit pension scheme sponsors are still working out whether and how to make an allowance for Covid-19 in their year-end accounts due to a range of issues, according to LCP.
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NewsPension savers face ‘double’ tax hit as inflation soars
On the go: The government’s decision to freeze the lifetime allowance could yield up to £2bn for the Treasury, double the £1bn it previously projected due to a surge in inflation this year.
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NewsDashboards drive 26% surge in MaPS spend on pensions
On the go: The Money and Pensions Service significantly increased its expenditure on its pension streams for its year to March 31 2022, a move it said was driven by its spend on the dashboards initiative.
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NewsBMA warns of spike in early retirements over tax relief reforms
The British Medical Association has warned that the number of doctors choosing to reduce hours or retire early would increase were the government to proceed with reported plans to freeze the pensions lifetime allowance past 2026.
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NewsAerospace scheme secures buy-in, baking co-op derisks with L&G
Risk watch: A round up of the latest derisking transactions, including the Cobham Pension Plan £530mn bulk annuity deal with Standard Life, and the Flour Milling and Baking Research Association Pension and Assurance Scheme £10mn assured payment policy.
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NewsInsurance market faces ‘unprecedented’ scheme demand
The market for UK defined benefit pension schemes to transfer their liabilities to insurers is set to climb sharply, analysis by consultancy LCP has found.