Lincoln Pensions Launches PensionSketch for trustees and sponsors
The PensionSketch tool was developed following our Award winning PensionSim scenario simulator for DB pension schemes. PensionSketch allows trustees and sponsors to plan long-term in regards to their journey planning or assesses their risk.
PensionSketch uses a scenario-based approach to plotting a journey, which integrates both sponsor and scheme modelling. The tool also includes a risk radar that provides a dynamic assessment of the risks that each potential journey plan entails.
It is designed to improve the journey planning process in three key areas:
• End-state decision-making – enabling decisions to be made in the context of long-term covenant reliability.
• Journey plan length – which can be benchmarked relative to covenant visibility.
• Investment risk – which can be considered relative to sponsor risk capacity
Michael Bushnell, Managing Director of Lincoln Pensions, says: “The TPR’s funding code has given the industry a new focus, as schemes will now need to incorporate funding, investment and covenant variables into different journey plan scenarios. In response, we’ve created PensionSketch, the first fully integrated journey planning tool. PensionSketch is unique in modelling both the scheme and sponsor, allowing for a dynamic assessment of scheme risks relative to sponsor support mapped across a range of scheme’s possible journeys. More than ever, schemes need to be thinking about the long term across a range of risk scenarios and we hope this tool can be additive to their journey towards securing member benefits.”
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