Integrated Risk Management

Integrated risk management (IRM) is the process of considering the risks that may affect pension schemes in an integrated manner, in order to understand how they could affect each other and how they can best be managed.

When done right, IRM can be an exceptionally valuable approach – an integrated consideration of different risks results in better outcomes for pensions members, scheme trustees, corporate sponsors, and their shareholders.

The Pension Regulator’s focus on the implementation of IRM exemplifies the importance of applying this to pension schemes. Irrespective of scheme size or funding level, all pension schemes should be adopting IRM, and making decisions based on an understanding of all the material risks faced by their scheme and its sponsor.

At its best, IRM can be a practical framework that creates greater mutual understanding and language among all the pension stakeholders to help them evaluate the risk trade-offs and make better overall decisions.

Lincoln Pensions are at the forefront of this new approach and are helping clients to implement this holistic approach. Through guides to IRM, training tools such as PensionSim and our PRISM advisory tools, we provide trustees and sponsors with the tools you need to truly integrate employer covenant with funding and investment.

Below you will find some further information. Also, we are a phone call away if you’d like to discuss how we can help you with your pension scheme and implementing IRM.


IRM Made Simple Guide

The IRM Made Simple Guide is co-written with the Pensions and Lifetime Savings Association (PLSA). It explains the concept of integrated risk management (IRM) and highlights effective implementation options to help trustees and sponsors achieve their objectives together.


PensionSim is a simulation that allows trustees of defined benefit pension schemes to experience real life scenarios and their impact on a pension fund and its sponsor in a safe environment. The simulation demonstrates the complex factors involved in managing a pension scheme which can be shared with your trustee board, but also with the sponsor. We can include this as part of an IRM workshop.

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