LCP

IRELAND - The 30 largest publicly traded companies in Ireland reduced their pension deficits by €2bn ($2.7bn) in 2010 to €24bn after at least half made changes to promised pension benefits but average deficits continue to outpace market capitalisations,...

Industry figures are expecting a host of de-risking insurance deals to be undertaken by "quasi-public sector" schemes in the coming months.

GLOBAL - LCP is expanding its international network into Mexico, Russia and the Commonwealth of Independent States (CIS) countries, with the addition of two new member firms.

Schemes with liability- driven investment strategies could shave one-third off their Pension Protection Fund levy payments by doing a "bespoke" analysis of investment risk, LCP says.

Trustees of schemes eligible for the Financial Assistance Schemes have been warned off buying missing beneficiary insurance by the Pensions Protection Fund board.

The Pension Protection Fund has begun billing schemes up and down the country for its services once again.

Pensions minister Steve Webb has signalled that the government will revisit the issue of risk-sharing as part of its drive to reinvigorate occupational pensions.

Pensions minister Steve Webb has vowed short service refunds will not be part of the future pensions landscape, and warned employers not to factor them in when selecting a scheme.

Sebastian Cheek talks longevity swaps

The attention given to pensions deficits at blue chip companies is in danger of overshadowing the problems faced by smaller companies with defined benefit schemes, say consultants.