LCP

Season's greetings and best wishes for 2025, from all of us at LCP! ✨ Thank you to all our clients and collaborators for working with us this year - we hope you have a restful break over the festive period and look forward to connecting again in the new year.

It's our last #LCPBulletin of 2024! In this edition: 🛑 The Chancellor suspends second phase of the Pensions Review 📆 PPF postpones final 2025/26 levy determination until January 💷 State Pension Age increase – Government says no to financial compensation for 1950s-born women Read more: https://lnkd.in/ezm-5uAY

Our festive edition of the LCP Digest is now live! In this month's newsletter, we share our latest thoughts on the big news and trends across pensions, insurance and investment over the last month. With the year drawing to a close, we will also look at some of the key highlights of 2024. 🔔 Subscribe now to stay updated and get LCP Digest directly in your inbox each month.

A welcome departure from the normal lunch break today 🥗 It was wonderful to visit one of our LCP partner charity's Trinity Winchester with some of my fellow Foundation committee members. Trinity is a vital, grassroots community-led organisation working to combat homelessness and support vulnerable people in and around Winchester. The Foundation has been supporting Trinity for some time now. We had seen some of Trinity's plans earlier this year via a PowerPoint presentation - safe to say it was even more eye-opening and inspiring visiting in person and seeing first-hand how the team had put funds raised into practice. This included the building of a new accommodation block, particularly focused on providing shelter to vulnerable women, the new garden shed for storing equipment over the winter as well as continuing to provide hot meals to those in need every day. Thank you for having us Trinity. Your work, especially at a time of year where giving should be celebrated, acts as an important reminder of the impact supporting organisations such as your has on the lives of those most in need. #socialimpact #charitablegiving Lia Licietis FIA CERA Amber P. Selina Newcombe Emma Birch Gary Rayner

Are you happy? Or, put a different way, why aren’t you happier despite living in one of the wealthiest periods in history? In this episode, #InvestmentUncut unpicks this by exploring: 🔹 The factors that drive happiness 🔹Why GDP isn’t the ultimate goal 🔹How policies could shift to prioritise well-being over consumption Dive into the world of happiness economics with Professor Lord Richard Layard 👉 https://bit.ly/4gn3p6G

On 5 December 2024 the Pension Protection Fund published its latest annual Purple Book, which focuses on the funding position of DB pension schemes, whilst also including information on scheme membership, asset allocation, de-risking and more. This week's Pension bulletin gives a deep dive into: ✅HMRC’s Newsletter 165 ✅FRC's Proposed changes to Pensions TAS ✅Recommendations to streamline pension scheme annual reports and accounts to reduce complexity 🔗Read more here: https://lnkd.in/en-AhbtM

🌟 Navigating a pension scheme wind-up 🌟 Winding up a pension scheme is a complex process involving members, sponsors, and trustees. Success depends on clear communication, strategic planning, and collaboration to balance everyone's interests. Key to a smooth wind-up: ✅ Member-focused communication ✅ Defined tasks, timelines, and budgets for sponsors ✅ Trustee protection and expert advice Delivering a seamless transition benefits all parties. Read our article in Pensions Age (p47) to explore these strategies in more detail: https://bit.ly/3D6duXg #Pensions #Windup #MemberExperience

We are delighted to have advised the Trustee of the Wates Pension Fund on their £200m transfer of member benefits to Clara, the DB superfund. This is the first superfund transfer for a scheme with an active sponsor, paving the way for more companies to consider Clara as part of their pensions strategy. Wates will provide an additional £19m of funding to facilitate the transfer. LCP’s Sam Jenkins commented: “This is a real landmark transaction as the first superfund transfer for a scheme with a non-distressed sponsor.  We are proud to have helped reach a robust commercial agreement with Clara that provides a secure home for members’ benefits and a bridge to insurance in the future. It is also extremely pleasing to see this transaction expand the range of credible ‘endgame’ options for pension schemes and their sponsors.” We will be hosting a webinar in the New Year to share our first-hand experience of this landmark transaction and the types of schemes where such a transfer might be suitable. You can register for the webinar here https://lnkd.in/gwDRiCxT

Changes to inheritance tax will bring some pensions and death benefits into scope - impacting trustees, employers, and individuals. Join LCP experts Sir Steve Webb and Alasdair Mayes, along with Maxine O’Hanlon from WPS Advisory Limited, for an insightful webinar on how upcoming changes to inheritance tax may affect the pensions and death benefits you provide. Don’t miss it! 📅 Tuesday, 14 January 2025 ⏰ 11:00 👉 Register here: https://bit.ly/4i8CFZr

LCP leading by example in Diversity, Equity and Inclusion. Loved sharing the history & customs of #Chanuka with Kate Sinclair today as part of a series of 'cultural days' organised by LCP's multicultural network. Thank you to the epic dreidel spinners who joined & ate donuts, latkes and other delicacies...and for Saanvi Vasudevan for organising this wonderful event. #diversity