Name: PMI Annual Lecture 2017 - Baroness Susan Greenfield CBE
Start: 2018-08-13T15:45:00Z
End: 2018-08-13T15:45:02.000Z
Location: BrightTALK
Rating: 5

A channel for pensions professionals, offering industry insight and lifelong learning to our members and the wider industry. 

The PMI is the largest professional body for pensions professionals in the UK.

PREMIER - In this video, Matthew Stephenson explores the lessons learnt by pension schemes from 2022's gilt crisis and provides a practical example of how Insight approaches risk management.

The big lessons learned: enhancing pension scheme strategy to increase certainty

Pensions dashboards will transform how people engage with their retirement savings, allowing users to view all their pensions information together in one place. The Pensions Dashboards Programme (PDP) is responsible for delivering the technical solution for dashboards and connecting pension providers and schemes in collaboration with the Government, regulators and industry. 

Chris Curry, PDP’s Principal, will provide an update on progress and discuss what is coming up. He will cover what pension providers and schemes should be doing to prepare to connect. With the programme having a keen focus on collaboration, Chris will also discuss the various ways for industry to get involved in making a success of dashboards. 

Lucy Stone, TPR’s programme lead, will outline what TPR expects trustees to do to ensure they meet their duties, who they should be engaging with on their journey to compliance and where to go for help and support.

Focus on Pensions Dashboards

In his Autumn Statement on 22 November, Chancellor Jeremy Hunt announced the introduction of a ‘pot for life’. Currently, when employees start a new job, they are automatically enrolled into their employer’s pension scheme. Currently, employees join a scheme designated by their employer when they start a new job. The prosed change will permit employees to require a new employer to contribute to an existing pensions arrangement nominated by the new employee.  The principal objective of this policy is to prevent employees from accruing a succession of small pension pots. However, there is the potential for this change to create significant disruption.  This webinar will consider how stapling might be implemented in the UK and identify both the advantages and disadvantages of such a change.

New Government Pensions Lifetime Provider Policy

Many pension schemes are now setting net-zero targets, or have been reporting on their climate risks in line with the Task Force for Climate Related Financial Disclosures (TCFD) framework. Through this webinar, we’ll unpack how to keep track and report on net-zero commitments, and we’ll also delve a bit deeper into TCFD. This will provide trustees with a good foundation to master net-zero and TCFD. We’ll also be sharing our insight into the new Task Force for Nature-related Financial Disclosures framework, which looks at nature-related risks facing pension scheme investments.

Mastering Net-Zero and TCFD

Video description: LV’s Smoothed Managed Funds aim to provide a smoother investing experience. In this short video we hear from IFA Paul Burns and LV’s Colin Watt on the funds’ appeal to clients, and why advisers should consider a Centralised De-Risking Proposition.

De-risking for retirement with LV’s Smoothed Managed Funds

Responsible, impactful investing is very important to the Clwyd Pension Fund. On recognising that private markets offered investment opportunities not found on public markets, they became one of the first funds to invest in private markets within the LGPS. It's now Clwyd's investment ethos that long-term returns can be made whilst making a positive societal impact.
Today, nearly 30% of Clwyd's assets are invested in private markets, private equity, private debt, property, forestry and agriculture. In seeking investment partners, Clwyd look for aligned objectives and mutual core beliefs in energy transition, waste reduction, social and health care, education and affordable housing - both worldwide as well as in the UK. In addition, Clwyd are proud to invest in their local Welsh economy through investments in local companies or infrastructure, aiming to contribute to the global effort of battling climate change whilst simultaneously creating jobs in the local area.
Capital Dynamics, a private assets manager, work closely with Clwyd to help them achieve their goals in the clean energy sector.
With their assistance, Clwyd are in the process of investing £50m they committed to clean energy projects in Wales, whilst a large-scale cross-fund initiative is in early stages of development.
Communication is an integral part of the fund's operation: Clwyd want their members to understand and feel proud that their contributions are part of a drive for positive change.
For more information visit: https://mss.clwydpensionfund.org.uk/

Clwyd Pension Fund: Investing with Impact

Cadro is a modern investment manager with a deep expertise in private markets.
DC pension money has, to date, generally avoided investment in private markets, and Cadro’s Co-founder and President Jordan Buck believes that consequently, members are missing out on the chance to invest in 99.9% of companies in the world, including many companies at the forefront of tech development and innovative science. Cadro’s mission is to overcome that limitation.
In the last thirty years the whole world has changed; technology, trends and markets have changed with it – and Cadro believes that the way we invest ought to change as well. In those thirty years we’ve seen a huge growth in the number of companies that are transforming the world, but many are still privately funded.
In the film we hear from Kerry Baldwin of IQ Capital, a deep-tech investor who provides an opinion on the opportunities private markets can offer investors: the UK venture sector is the most developed in Europe, and returns from UK venture are often well beyond those from public markets.
While there is a widely held belief that private markets can be riskier, Gary Smith, a Cadro Senior Adviser, believes that to ignore private markets is in itself a risk. Many private companies offer growth potential, diversification opportunities, and enable chances to invest in the future of this world and, pertinently, the future into which DC pension members will be retiring.
Cadro comprises specialists who want to help guide new investors in accessing these transformational business opportunities. They understand what challenges trustees face, which is why they’re seeking to inform, educate and help anyone with an interest in private markets.
They believe that we currently face a generational opportunity, and that now is the time for trustees to act.

Unlocking Private Markets: Cadro’s Mission

Do your members/employees realise the importance of having enough money for retirement? There are more options available to employees than just their main scheme pension, and most employees do not realise how much they'll actually need for retirement.
However, there is some fantastic news for LGPS members. They have an opportunity to save an additional portion of their monthly salary into a separate pot from their main pension contribution via salary sacrifice; Shared Cost Additional Voluntary Contributions (Shared Cost AVCs).
One of most attractive features of the Shared Cost AVC scheme is that in reducing one's monthly salary, the contributing member will pay less income tax and NICs, effectively achieving growth of approximately 47% on every pound saved.
Although Shared Cost AVCs are fairly straightforward, the level of administration required to foster a successful take-up of the scheme amongst the workforce is anything but. Employers must complete regular and essential compliance checks, maintain general upkeep and educate employees frequently on the importance and benefits of saving extra for retirement. All these things present a challenge for employers when deciding whether to launch their own Shared Cost AVC scheme themselves.
This is where AVC Wise's services become invaluable, with their deep expertise and capability of providing both the guidance and requisite legwork to administer the scheme on behalf of an employer.
Their user-friendly platform makes it easy for employees and employers to see and manage their contributions, with clear, easy-to-understand advice and information. Their expert-led webinars and individual meetings have resulted in a combined conversion rate of 56%, whilst their educational email content has generated £1.6m of salary sacrifice this year alone.
Shared Cost AVC amounts can be altered at any time, suiting the financial needs of an individual.
Learn more at www.avcwise.co.uk

Saving for the Future with Shared Cost AVCs

Hambro Perks is a recognised expert in venture and growth capital, with investment activities across technology markets in areas such as fintech, healthcare, environmental technology and life sciences. In this film, we discover how Hambro Perks offers pension funds a wide range of investment opportunities in exciting start-up and growth-stage companies with huge potential. What is more, these companies can also create positive change in society, and we speak to Mridula Pore, who tells us about the growth of Peppy Health after receiving venture capital investment from Hambro Perks. We learn that investing in venture capital, as part of a diversified portfolio, can be a great way to help startups scale, create positive social impact and provide a good return on investment for pension trustees looking to grow their members capital for the long term.

Investing in the Future

Nearly all of the big issues on trustees and pensions managers’ desks involve scheme administration in some shape or form, and yet admin is often consigned to the bottom of the trustee meeting agenda.  
Admin comes to the fore when things go wrong, but is there more that you could be doing to improve member outcomes?  Scheme administration is central to member engagement, what members think about the scheme and the decisions they take about their retirement savings.    
In this webinar, Sackers partner Kirsty Pake will lead a discussion on why good admin matters, focussing on how trustees, pensions managers and their advisers can work together to make admin central to their strategic planning for the scheme.  
Kirsty and litigation partner James Bingham will be joined by two admin experts, who have experience working with third-party and in-house admin teams.  They will discuss, amongst other areas:

•Data: protecting scheme data, data accuracy and data projects eg pension dashboards
•Member engagement: communications, key life events and complaints
•Projects: role of the administrator, when to engage and preparatory work.

Admin matters: are you thinking about admin enough?

A fundamental aspects of managing a Defined Benefit (DB) pension scheme is assessing the percentage of scheme members who have qualified dependents and in particular identifying marital status and spouse information. The presence of qualified dependents significantly influences a scheme or insurers financial calculations and responsibilities. This session explores the impact of: 
o Missing spouses during de-risking and the impact on pricing calculation
o Incomplete data during a write-out process, resulting in poor member experience. 
o New/innovative ways and additional data available to help clients make more informed decisions.

Marriage & Pensions: A mis-match made in data

Apprenticeships in the context of the pensions industry offer individuals the opportunity to gain practical experience and a formal qualification simultaneously. These apprenticeships are designed to equip participants with the necessary skills and knowledge to excel in roles such as pensions administrators, consultants, or analysts. By combining on-the-job training with theoretical learning, apprenticeships provide a comprehensive understanding of the complexities of managing pension schemes and retirement planning.

The PMI plays a vital role in supporting apprenticeships in the pensions sector. As Sector Body and as an End Point Assessment Organisation (EPAO) it provides the best sector specific education and training, assessment, guidance, resources, qualifications and expertise to apprentices, employers and third party providers. The PMI's involvement helps maintain industry standards, promotes best practices, and fosters the development of a skilled workforce in the pensions management field.

Through its collaboration with employers and educational institutions the PMI facilitates the development of apprenticeship programs that meet the evolving needs of the industry. By staying abreast of the latest trends and regulatory requirements, the PMI contributes to the continuous improvement of apprenticeships, thereby nurturing a pool of talented and knowledgeable professionals who can effectively navigate the challenges of the pensions landscape for now and for the future.

PMI monthly series - Apprenticeship programme

With increased focus on delivering value for Defined Contribution (DC) pension savers, many fund managers are working hand in hand with investment only platforms to access innovation and maximise member outcomes.

One example is the use of Target Date Funds (TDFs), which can be tailored to meet a wide range of investment objectives, from accessing private market assets to incorporating Environmental, Social and Governance (ESG) considerations into scheme portfolios. Whole of Life TDFs can also provide decumulation options for members as they move towards and through retirement.

In this training session, we’ll talk you through the use of Target Date Funds in DC investment strategies. We’ll also look at some of the TDF solutions that fund managers and platform providers are implementing to address current and future investment challenges while delivering improved outcomes for scheme members at all stages of the savings lifecycle.
Key learning points:

•Understanding the role of investment only platforms in building flexible, innovative solutions for DC pension savers.
•Understanding Target Date Funds, including how they can be accessed and managed via a platform
•Using Target Date Funds to access private market investment opportunities
•Using Target Date Funds to integrate ESG considerations
• Implementing Whole of Life Target Date Fund solutions

Targeting better member outcomes

Long gone are the days when listing a few names on a Business Continuity Plan would suffice if something might go wrong. The complexity of the types of incidents we now face, including cyber-attacks, means that schemes need to understand what they need to do to be able to respond effectively. 

Business Continuity Management (BCM) is more than producing a plan and hoping that this will work in the event of an incident; it is a holistic practice that will enhance your resilience if considered, and implemented properly. 

Each scheme needs to consider its own priorities and interconnected relationships with service providers, advisers, sponsors / employers for its approach to Business Continuity to be effective. 
In this session you will learn:

•What is Business Continuity Management
•Why it is important for pension schemes, their advisers and service providers
•What you need to consider, address and put in place as part of your approach to BCM
•Practical tips and the importance exercising your teams and plans 
•How BCM needs to be addressed to meet the obligations and expectations of the General Code. 
•The benefits of good BCM for all parties involved in the management of pension schemes 
•How Barnett Waddingham can support our pension clients in these high-risk areas

Understanding the importance of Business Continuity for Pensions Schemes

The Trustee Workbench conference is designed for all pension trustees, including professional, member and employer-nominated trustees. This event builds on our expertise in helping trustees succeed in their roles and draws on the current issues and challenges.

Trustee Workbench 2023

Unlock the future of pension management with the PMI as we proudly present our brand-new monthly webinar series, designed to enlighten, educate, and empower pensions professionals like never before.

Our journey begins with a spotlight on the much-anticipated PMI Pathways. Join us as we delve into the newest advancements in the PMI Pathways program – an initiative that’s shaping the careers of pension professionals. We invite you to join us to hear about the latest advancements of the career-shaping journeys, designed to empower pension professionals, we will cover the journey so far for members, and look to the future including what Pathways means for the Autumn exam sittings.

Navigating PMI: Your Path to Member Success

PMI Pathways Webinar October 2023.  Video titled: Navigating PMI: Your Path to Member Success

How using the Tumble Dryer can impact your retirement plans?

Choosing when to retire is a complex decision at the best of times, however the recent cost of living crisis has made many who are thinking of retiring in the next couple years reassess their plans, especially as some may feel they cannot manage their pension contributions in the run up to their retirement.

Understanding your finances and how you can maximise your money through these turbulent times can help you maintain and build on your retirement plans and therefore give you confidence you will have the desired lifestyle you want in retirement. E.g. did you know that if you use your tumble dryer twice a day over the winter you could be paying £1.48 per day on this alone. By reducing the amount of electricity, you use, the extra savings could be used on other finances, such as your retirement.
Therefore, if you are responsible for helping your company’s employees in understanding their retirement planning or if you are responsible for offering financial education within your company the “Managing your finances as you approach retirement’ taster session will provide an insight into how your employees can manage their finances leading up to and into retirement during challenging times , which in turn will enable them to make better retirement decisions.

So if you think this type of education could help your employees, then please book onto one of our Taster Sessions Changes and see how our “Retirement Matters service can support you.

Managing your finances as you approach retirement

We are pleased to be holding our fourth Annual Lecture on 12 September 2018. This year's speaker is Tim Harford, a world-renowned behavioural economist, award-winning FT columnist and BBC broadcaster. Register to attend here https://pensions-pmi.co.uk/p/1TJ9-9AP/pmi-annual-lecture-2018

View the highlights from our 2017 lecture with Baroness Susan Greenfield CBE here.

PMI Annual Lecture 2017 - Baroness Susan Greenfield CBE

Economics

Pensions

Small businesses and enterprises alike are competing for not only market share, but also for the best employees to move their businesses forward. Competitive salary and benefits packages are the foundation of high employee satisfaction. Join this community to keep up with changing regulations and learn how to optimize workforce costs with competitive yet cost-effective employee benefits and compensation plans.

Benefits and Compensation

Human resources is intrinsically linked to business success and requires a thoughtful balance of a variety of complex issues. The human resources community on BrightTALK is made up of thousands of professionals in human resources exchanging human resources best practices and advice. Watch hundreds of on-demand webinars for immediate information or participate in upcoming live webinars and have your questions answered by respected HR thought leaders.

Human Resources

Welcome to the UK wealth managers community on BrightTALK! Join thousands of UK wealth managers on BrightTALK to share and learn about wealth planning, the best investment funds and more. Browse hundreds of on-demand webinars and videos presented by recognized wealth management professionals and increase your engagement by participating in live interactive webinars.

UK Wealth Managers

Join this highly engaged community of UK financial advisers as they share peer-to-peer best practice advice. Find content related to investment and economics, better business practices, client acquisition and client referrals for financial advisors, as well as tax and pension advice. Further the engagement by presenting and participating in live interactive webinars and videos.

UK Financial Advisers

This community is for institutional investors responsible for managing large-scale funds. Join to learn how top institutional investors are managing their organization’s shares, influencing the market, and what tips they have for successful investment strategies.

Institutional Investors

Get powerful financial planning and analytics insights for your business. Connect with experts and colleagues to get the most up-to-date knowledge and drive optimal financial performance for your company.

Financial Planning and Analysis

The accounting and finance community on BrightTALK features presentations from leading accountants and finance professionals. The accounting community includes tax planning strategies, QuickBooks webinars and other accounting webinars, while the finance community features presentations on financial capital regulations and forensic data analytics. Join the conversation by attending live financial and accounting presentations and connecting with industry thought leaders.

PMI Annual Lecture 2017 - Baroness Susan Greenfield CBE

Presented by

About this talk

More from this channel