Lucida PLC

Pensions seem to be in the headlines more and more. Sometimes it's because turbulent investment markets are causing problems. Sometimes it's because experts say we are living much longer and we will struggle to save enough money to live on.

Some coverage has been about people losing their pensions when the company they work for goes bust, while other stories have focused on how falling stock markets have created big holes in many defined benefit pension schemes.

All of this can make for worrying reading. The truth is that pension schemes are going through some tough times currently for a whole variety of reasons. Although defined benefit pension schemes are often cited as the best kind of pension because of the greater certainty they offer members, even here there are big issues that are forcing significant change.

An increasing number of trustees and employers are now looking at a wide range of solutions that will help them manage the risks associated with a defined benefit pension scheme, while protecting members' benefits. Lucida is a specialist insurance company that helps employers reduce or even remove entirely the growing risks involved in running these schemes.

The most comprehensive solution for employers is a full buyout, where the scheme liabilities are transferred completely to Lucida.

With this option, members will enjoy significant individual security as Lucida is authorised and regulated by the Financial Services Authority (FSA).

If a scheme is subject to a buyout, members no longer need to worry about the possibility of their employer going bust and losing some of their pension as a result.

Other remedies such as a buy-in of special insurance also provide members with added peace of mind.