Our approach

Lincoln Pensions is the UK’s leading specialist provider of covenant advice

We provide reporting and monitoring services, and specialise in the innovative resolution of complex pension scheme issues. We bring clarity to your situation, work in a collaborative and forward-thinking way, and find a resolution that works.


We do not provide actuarial or investment advice – we work with your existing advisors.  We believe that our objectivity and complete independence give better answers and bundling services introduces conflicts that outweigh any apparent cost-saving.

An objective view of covenant strength

Covenant strength is central to effective risk management, a fact that has been recognised by The Pensions Regulator and is further strengthened in its latest guidance.

Our rating scale is the most comprehensive tool used for assessing the covenant available to your scheme. It provides an objective view, describing the risk associated with the employer covenant and considering the likelihood of the scheme being able to fully fund its pension obligations. It gives you the means to monitor the situation over time.

“We are encouraging trustees to take an integrated approach to addressing covenant, investment, and funding risks and to be in a position to evidence how this has been done.”
The UK Pensions Regulator, April 2013

Collaborative and constructive working

The best resolution is reached when everyone’s viewpoint is appropriately considered and everyone’s expertise is harnessed effectively. We achieve results by working collaboratively and constructively with the sponsor, trustees and other advisors.

A leading business needs to thrive in order to support its pension scheme obligations. Although scheme funding negotiations can require robust negotiations, the outcome needs to work for both sponsor and trustees.

Collaborative working is the only way to achieve a holistic view of a particular situation. We work closely with your investment consultants and actuarial advisers to give clients fully integrated advice and optimal solutions to the pension scheme risk issues.

Clear, complete, pragmatic advice

Insightful covenant advice is pivotal to the management and resolution of complex pension issues.

With Lincoln Pensions you get clear answers to complex questions like:

  • How strong is my covenant?
  • How does it compare to one quarter, one year, three years ago?
  • How does this event impact my covenant? What contribution would address any deterioration?
  • How does a contingent asset or guarantee improve my covenant?
  • What value of guarantee, from whom, and on what terms would move my covenant up your scale?
  • How much can the company afford? Are we constraining sustainable growth?
  • Can the company support the investment risk being run-on the scheme?
  • The insurer with the cheapest buy-in quote – are they weaker than the insurer which is most expensive? Am I trading price vs. security?

Call +44 (0) 20 3889 6300 or email us