November - December Festive 2024 Edition
Welcome to the festive edition of the LCP Digest! 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.
Mansion House reforms
Last month, the Chancellor delivered her Mansion House speech, outlining the government’s plans for LGPS, DB, and DC pension schemes, with a strong focus on consolidation.
Our experts shared their views: Tim Gilbert discussed how consolidation could improve efficiency and questioned if it missed an opportunity to ease short-term financial pressures on local councils. Meanwhile, Stephen Budge highlighted the importance of ensuring consolidation doesn’t stifle innovation or fresh ideas.
?? To learn more about the implications for UK pensions and the wider economy, watch our webinar here.
COP29
This year’s United Nations Climate Change Conference (COP) took place during rising geopolitical tensions and Donald Trump’s re-election as US President.
This year’s summit covered a range of climate topics, including finance, adaptation, the just transition, biodiversity, and more. In a recent blog, Simon Coomber highlighted key outcomes that private investors need to know.
Our latest Vista magazine edition
The latest edition of our online investment magazine - Vista, is here.
This edition features hand-picked articles to help investors navigate and seize opportunities in today’s dynamic market.
Our experts explore topics ranging from how tail-risk protection strategies can help investors concerned about the impact of market volatility to the challenges of achieving the government’s ambitious target of clean power generation by 2030.
A look back at 2024
Supporting widows and widowers in checking pension entitlements
Earlier this year, LCP launched a new tool to help widows and widowers check their state pension entitlements after new errors in state pension claims were uncovered. Steve Webb identified a group of cases involving people who were already widowed when they claimed the new state pension.
The tool helps those affected understand how much state pension they may be entitled to inherit if their spouse or civil partner has passed away.
Why does Population 2050 matter?
Four major megatrends are shaping our future: climate change, demographics, technology, and health. To navigate these changes and identify opportunities, we created our Population 2050 hub earlier this year, packed with insights on these critical trends.
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Earlier this year, our CEO Aaron Punwani explored why it’s important to think ahead to 2050 and what it means for us all.
Magnetic pensions
In April, our experts found that over 2 million new pension pots are left behind each year as people switch jobs, leading to more than 16 million small deferred pots, each worth less than ￡2,500.
To tackle this issue, LCP proposed a solution called ‘Magnetic Pensions’—a system where an individual’s pension automatically follows them to their new job, staying ‘magnetically attached’ as they move through their career.
Industry recognition
The incredible talent and dedication of our team have earned us several industry awards this year, including the InsuranceERM Awards, UK Pensions Awards, Corporate Adviser Awards, and Women in Insurance Awards.
Most recently, our Pensions Management Consulting team was named ‘Team of the Year’, and our partner Rachika Cooray was recognised as Actuary/Consultant of the Year’ at the Women in Pensions Awards.
Our latest podcasts
Beyond Curious with LCP
David Fairs and Steve Webb sit down with Lee Foulger, Director of Financial Stability, Strategy, and Risk at the Bank of England, to discuss his career journey and the challenges of ensuring financial stability in a fast-changing world.
Investment Uncut
Our experts are joined by two guests from the Border To Coast Pensions Partnership : Tim Manuel , Head of Responsible Investment, and Teju Akande , Climate Change Manager, to discuss their approaches to climate change and sustainability.
Insurance Uncut
Our experts speak with Rosemary Beaver, non-executive director with extensive experience in senior regulatory, risk, compliance, and governance roles.
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3 个月Thank you for sharing the festive edition of the LCP Digest. such valuable updates. Wishing you a wonderful festive season!