LCP

The Littlewoods Pensions Scheme has completed a buy-in covering just under £930m of around 6,500 members’ benefits with Rothesay Life, the majority of which relate to deferred members.

Alan Casey sets out how schemes can use HMRC GMP listings even where they are riddled with errors

The majority of defined benefit (DB) schemes have taken no material action to change their investment strategy or journey plan during the coronavirus pandemic, say Lane Clark & Peacock (LCP).

The Countrywide Farmers Retirement Benefits has secured a £100m buy-in with Legal & General, insuring members’ benefits above Pension Protection Fund (PPF) compensation levels.

The LV= Employee Pension Scheme has agreed a buy-in of around £800m with Phoenix Life after converting an existing longevity swap.

The Pensions Regulator’s (TPR) proposed revisions to the defined benefit (DB) funding code could reduce member security, Lane Clark & Peacock (LCP) has warned.

HM Revenue and Customs (HMRC) has updated its tax guidance for GMP equalisation, detailing how pension schemes can resume paying lump sum benefits to members without adverse tax consequences.

Professional Pensions spoke to Lane Clark & Peacock chief executive Aaron Punwani as part of an exclusive series of interviews with the leaders of some of the UK’s leading pension consulting firms. This is what he had to say…

The revenue of the three biggest pension consultancy firms in the UK fell slightly in 2019, dropping from £1.16bn in 2018 to £1.14bn in 2019.

Just a fraction of liability growth since the start of the year will be offset by the impact of excess deaths caused by Covid-19, says Lane Clark & Peacock (LCP).