Pensions Management Consulting

We are experts at helping trustees and employers manage their pension schemes. We work across the three main areas detailed below.

Trustee Secretarial Services

We act as the central point of coordination for Trustee Boards, liaising with advisers and the sponsoring employer, managing member cases, ensuring regulatory compliance, and making sure meetings are run efficiently. This includes preparing Trustee meeting agendas and papers, recording minutes and ensuring regulatory deadlines are met. In short, we keep trustees organised and informed so they can focus on making the right decisions for members.

Governance consulting

Good governance is the foundation of a successful pension scheme. It ensures that trustees and employers make informed decisions, comply with regulations and manage risks effectively. At LCP, we help schemes achieve this through practical, structured support, including:

• Board Effectiveness Reviews - Assessing how well trustee boards operate and identifying ways to improve decision-making and collaboration
• Adviser Performance Reviews - Evaluating the quality and value of the advice provided by a scheme’s external advisers
• Effective System of Governance (ESOG) Reviews - Ensuring schemes meet The Pensions Regulator’s General Code requirements
• Risk Management - Helping trustees identify, monitor and mitigate risks that could impact their scheme
• Cyber Security – providing trustees with training on cyber risk and how to respond to cyber incidents should they occur

Projects

Beyond day-to-day support, we also deliver projects that address specific challenges. These include:

• Insurer Administration Due Diligence - Reviewing insurers in the Bulk Purchase Annuity (BPA) market to ensure they can provide a good experience to members post-buy-out
• Third-Party Administrator (TPA) Selection – Procurement exercises to help clients choose the right administrator for their scheme
• Adviser Performance Reviews - Evaluating the quality and value of the advice provided by a scheme’s external advisers

Typical Graduate and Intern Tasks

The type of work you can expect to be involved with as a Graduate or Intern include:

• Attending regular client meetings and presenting updates
• Connecting with different advisers to a pension scheme to ensure that actions are delivered
• Drafting member communications
• Updating key documents (e.g. agendas, action logs and scheme calendars) for client meetings
• Assisting with governance activities
• Handling member cases (e.g. pension transfers or complaint cases)
• Communicating regulatory changes to raise awareness of pension matters
• Preparing project plans and keeping key stakeholders updated and accountable

Eligibility Criteria

• A Level - Three B's or above
• Degree - Any STEM subject 2:1

Our recruitment process is not looking to catch you out but support you in showcasing your skills and knowledge. We encourage you to declare extenuating circumstances as this will help us better understand your eligibility.

If you require reasonable adjustments to assist in the recruitment process, please let us know by emailing accessibility.aware@lcp.uk.com

Personal Development

We have a focused departmental training programme, run over the first few weeks, to get you up to speed on key technical and professional issues in relation to pension schemes and governance. Beyond that, we run a wider programme in your early years, designed to develop the softer skills required in the job. For example, the “LCP Xtra" programme offers you an early opportunity to practise presentation skills in-house before putting them to the test in front of clients.

We also offer regular department wide training sessions, covering areas such as market “hot topics”, new and evolving areas of the pensions and governance landscape.

Additionally, our learning management system, LCPLearn, provides access to hundreds of training resources, including workshops and eLearning – allowing an individual to self-serve and drive their own learning.

Professional qualifications

All of our Pensions Management Consulting graduates study for the Advanced Diploma in Retirement Provision through the Pensions Management Institute.

We will support you through every stage, including:

• A study budget for each course to cover the costs involved
• A generous study leave allowance each year
• A study mentor to advise you on your route through the exams and discuss any queries that you may have

Future Career

In a world where people have more diverse retirement needs, ensuring that pension schemes are best serving their members is increasingly important. Pensions Management Consulting is an exciting and fast-growing department where you can hit the ground running and make a real contribution to both our work and real pension scheme members. Our department is made up of passionate people with a diverse range of career backgrounds, including actuaries, lawyers, administrators and pensions managers, offering a great learning environment for newcomers to the industry, and by working in our client-facing services you can develop your technical and non-technical consultancy skills.