DC Investment and Governance

Department Information

Nearly everyone in the UK who is in a workplace pension scheme is saving in a defined contribution (DC) scheme. We help trustees of trust-based DC schemes as well as employers operating contract-based schemes or master trusts, to ensure the financial reward package for their employees is effective and future-proofed, and ultimately support positive retirement outcomes for their members as well as the current financial wellbeing of their employees.

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Typical Graduate and Intern Tasks

This is a consultancy-based role where you will engage in a variety of client and non-client work, collaborating with teams of all sizes, from analysts to partners.

The type of work you can expect to be involved with as a Graduate include:

Analysing data and using our in-house software to model pension scheme cashflows.
Drafting client reports, advice letters, and attending various meetings.
Advising trustees and employers on DC pension schemes, optimizing strategies, and assisting with benefit design.
Helping clients comply with regulatory duties and producing governance documents.
Advising clients around responsible investing, including climate risks and opportunities associated with different investment strategies.

The type of work you can expect to be involved with as an Intern include:

Understand how we advise trustees and employers on DC pension schemes, optimising default investment strategies and investment options for members and advising on manager selection.
Learn how we advise clients around responsible investing, including climate risks and opportunities associated with different investment strategies.
See the ways in which we advise clients on communication tactics for better member engagement and outcomes.
Get an insight as to how we remain updated on financial market shifts and how they impact clients and their performance against their objectives.

Health Analytics Postgraduate Internship - Interested in Health Analytics

Eligibility Criteria

A Level - Numerical Subject A Grade
Degree - Any subject 2:1

We offer contextualised grading as part of the recruitment process via REALrating which may allow for a positive uplift in your academic grades. We will also take into account any extenuating circumstances declared when considering your eligibility.

For more information, please visit our Graduate FAQs and Summer Intern FAQs

Personal Development

We have an extensive three-year departmental training programme to get you up to speed on key technical and professional issues in relation to DC pension schemes and investment.

We also offer regular department wide training sessions, covering areas such as market “hot topics”, new and evolving areas of the DC pensions and investment landscape.

Additionally, our learning management system, LCPLearn, provides access to hundreds of training resources, including workshops and elearning – allowing an individual to self-serve and drive their own learning.

As a DC consultant, a key part of your future role will involve presenting advice and ideas to our clients clearly and in a way that is easy to understand. We realise that for some, this will be a new experience – and possibly a daunting prospect! But there is no need to worry, our training programme is specifically designed to help you develop the skills and confidence you need to be a successful consultant. Our "LCP Xtra" programme offers an early opportunity for you to practise presentation skills in-house before putting them to the test in front of clients.

Professional qualifications

Typically we sponsor DC graduates to study for the Chartered Financial Analyst (CFA) qualification.

We will support you through every stage, including:

Financial support to cover at least two attempts at each exam
A generous study leave allowance each year.
A study mentor to advise you on your route through the exams and discuss any queries that you may have.

A quick word of reassurance: very few people pass all their exams first time, and you won't be under any pressure to do so. Our study programme makes allowances for you sitting exams more than once. However, when people’s hard work does pay off, we pride ourselves on recognising and celebrating their success.

Future Career

Your work will involve a range of tasks all focusing on improving member retirement outcomes for our DC members. The work covers investment performance monitoring, investment strategy design (including consideration of ESG matters), wider scheme design including new scheme selection exercises, interaction with pension providers and ensuring schemes meet legislative governance requirements.