Lucida is a specialist insurance company offering a wide range of solutions to the financial risks associated with corporate defined benefit pension schemes.
As defined benefit pension schemes are increasingly becoming a legacy issue, we understand that the risk exposure and associated pressures can distract from a company's core business and detract from the analysts' appreciation of how management is performing.
Our solutions enable company management to focus on running their business by:
In addition, our solutions provide trustees and members with an increased level of security.
Lucida's solutions range from insuring a specific risk or section of a pension scheme through to the immediate removal of all pension risks. Our solutions include:
We pride ourselves on our ability to design and deliver the optimum solution for each company's specific needs and have a track record of implementing innovative solutions and building long-term relationships.
We offer a huge amount of flexibility in terms of how the cost of the insurance premium can be met. For example, part of the premium could be deferred for a number of years.
This delivers immediate risk transfer but with the flexibility to stagger the timing of payment - for example, to match existing contribution commitments. Under such an approach, de-risking solutions do not necessarily mean accelerating or increasing cash contributions and may enable a de-risking solution to be implemented without selling assets at unattractive prices or reducing a pension scheme's exposure to return-seeking assets.
Lucida can extend the insurance policy to cover other types of pension-related risks the company or trustees may be exposed to, including data risk, wind-up risk and GMP equalisation risk.
Lucida can also remove the administrative burden by taking on the primary relationship with the individual scheme members. This is delivered by a team of experienced pensions administrators and managers with a track record of outstanding customer service.