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 leads to better answers and our specific-focus means we are able to provide more nuanced, in-depth service.

An objective view of covenant strength

Covenant strength is central to effective pensions risk management, a fact that has been recognised by The Pensions Regulator and is reflected in the most up-to-date guidance and advice on best practice.

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

“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 solution is reached when the viewpoints of all stakeholders are considered, and a range of expert opinions are sought. We achieve results by working collaboratively and constructively with the sponsor, trustees and other advisors.

A business needs to thrive in order to support its pension scheme obligations. Although scheme funding negotiations can require robust negotiations, the outcome needs to balance the interests of sponsors and scheme members.

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

Clear, complete, pragmatic advice

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

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

  • How strong is my covenant?
  • How does it compare to one quarter, one year, or 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