£ 650bn in retirement offers likely over the next decade, LCP says


By Martin Croucher (Sept. 30, 2021, 3:09 p.m. BST) – Pension schemes are likely to insure £ 650 billion ($ 877 billion) of liabilities over the next decade, with regulatory developments driving more business than ever, a consultancy said Thursday.

Lane Clark & ​​Peacock LLP said a new legal requirement for programs that have a long-term funding goal would drive many to seek insurance to cover liabilities.

The requirement is one of several measures of the Pension Act, most of which will come into force on Friday.

LCP said criminal sanctions against company bosses who fail the job security programs could also be an incentive for further transactions …

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