The majority of defined benefit (DB) schemes have taken no material action to change their investment strategy or journey plan during the coronavirus pandemic, say Lane Clark & Peacock (LCP).
Three quarters (75%) of schemes surveyed by the consultancy confirmed they had not made any changes in research released on Thursday (6 August). However, LCP warned inertia may be damaging for many and said more schemes should have a framework in place. While around 40% of survey respondents said both their funding position and covenant were holding up despite the economic impact of the pandemic, 60% had seen a deterioration in one or both of these areas. Some 40% of schemes expected to have some contingent funding in assets, cash or credits in place by the time of their next valua...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
