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Accounting roundup: IASB, IFRS, Lane Clark & Peacock
IASB staff expect Conceptual Framework to have little impact on preparers reporting under IFRS
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People moves: Former UK pensions minister joins LCP
LCP, LOIM, PASA, PTL, Asset Management Exchange, APG, GAM, PostNL, Danica Pension, Achmea, Morningstar, Kempen, Patrizia, Schroders, Man Group, BlueBay, AXA IM, AFM
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Risk transfer special report: Pension liabilities shift to insurers
New players are waiting to enter the UK pension risk transfer market but this will depend on how accommodating Solvency UK will be
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LCP: COVID-19 has limited impact on DB schemes’ funding levels
A large number of FTSE 100 pension schemes were in a relatively healthy position
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Mercer principal Stocker joins Lane Clark & Peacock
UK - Lane Clark & Peacock says it has hired Mercer Human Resource Consulting principal Mark Stocker as partner within its London actuarial team.
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Lane Clark & Peacock to launch “one-man DB”
UK – Actuarial consulting firm Lane Clark & Peacock is to launch a defined contribution scheme that targets a specified level of pension benefits - which it likens to a single-member defined benefit scheme.
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Lane Clark & Peacock names new finance director
UK - Actuarial consulting firm Lane Clark & Peacock has named a former finance chief of Ernst & Young in Australia as its new finance director.
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Lane Clark & Peacock earns E2.6m profit
UK – UK actuarial consulting firm Lane Clark & Peacock made a profit of 1.8 million pounds (2.6 million euros) in the six months to the end of September, figures from its parent company show.
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IASB changes fly in the face of harmonisation - LCP
GLOBAL – Proposed changes to the international pension accounting standard could unwittingly lead to a divergence between European and US accounting practices, according to Lane Clark & Peacock (LCP).
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M&S tops up de-risked pensioner liabilities with £750m set of buy-ins
80% of retail scheme’s pensioner liabilities are now insured
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UK roundup: Church Workers Pension Fund complete buy-in
Plus: National Grid scheme hires BW, Hymans calls on plan sponsors to take control over DB valuations, UK pension fund sells office building
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Pensions risk could lead to use of 'EBITDAP' - LCP
[16:50 CEST 05-08] UK – Pensions consultancy firm Lane, Clark & Peacock has predicted companies might in future adapt their accounting reports to carry financial results which list pensions activity as an extension of their ‘EBITDA’ calculations.
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Westbrom taps LCP
[16:34 CEST 31/05] UK – The £58m (€85.2m) pension fund of West Bromwich Building Society has tapped Lane Clark & Peacock (LCP) to provide pensions actuarial, investment and administration services, as well as corporate advice.
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Pension surplus under threat from equities - LCP
[14:00 CEST 08-08] UK – Companies whose pension schemes remain heavily invested in equities should reconsider they are in a vulnerable position, argues Bob Scott, partner at Lane Clark & Peacock (LCP).
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Buyouts remove pensions risk at a cost - LCP
[16:00 CET 27-11] UK – Pensions buyouts are currently the only way to remove mortality risk but can require a lengthy implementation process affecting a firm’s accounting figures along the way, suggests a buyout guide produced by Lane, Clark & Peacock.
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UK: A review of the LDI debacle
The UK Parliamentary inquiry into the LDI crisis has shed light on its causes, but the debate over the lessons learned for the UK DB industry is far from over
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IASB votes to pause work on IFRIC 14 project, rethinks way forward
‘The IASB have been struggling with this for some time, but there are no easy answers’
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Accounting Matters: Inflation measurement dilemma
If there is one issue that has seized the attention of defined benefit (DB) sponsors this reporting season, it is whether inflation should be measured using the consumer prices index (CPI) or the retail prices index (RPI). And Lane Clark & Peacock (LCP) partner Alex Waite is clear why: “There is a formula [for RPI] and the formula is wrong. It is like having an error in a spreadsheet,” he says.
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LCP unveils specialist consulting services
UK -- Lane Clark & Peacock (LCP) has launched two specialist practices, LCP Trustee Consulting and LCP Corporate Consulting, to offer advice to the trustees and corporate sponsors of pension schemes.