PMI TV: The role of investments in buy-in and buyout pricing
Pretty Sagoo, Head of Pricing and Execution in Legal & General’s Pension Risk Transfer business, discusses how investments affect buy-in and buyout pricing and what that means for trustees looking to de-risk schemes.
RecordedAug 14 20186 mins
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Howard Kearns, Longevity Pricing Director, Insight Investment
Despite the ongoing impact of the COVID-19 pandemic, longevity remains a key risk for many pension schemes. In this webinar Insight Investment will provide an introduction to longevity risk and the techniques that pension schemes can use to mitigate it. They’ll also discuss how the reinsurers, the institutions who take on longevity risk, determine their longevity risk pricing and how the unfolding COVID-19 crisis might affect their approach.
This webinar is open to all members, but will be of specific interest to professional trustees and those looking to get a greater understanding of longevity and its impact on schemes.
Attending this webinar will contribute 45 minutes towards your CPD requirements.
Tim Middleton, PMI - Vicki Bakhshi and David Page, BMO Global Asset Management
How should pension schemes assess, manage and report on climate-related risks? Hear from BMO specialists on existing practice within the industry and what trustees should consider ahead of the DWP’s “Aligning your pension scheme with TCFD recommendations” consultation deadline on 2 July 2020.
Join BMO Global Asset Management as they look at how climate change has been brought into focus for many pension funds – be it through macroeconomic events or increasingly prominent regulations. Vicki Bakhshi, Director, Responsible Investment, BMO will share her specialist insight into the climate change engagement landscape; look at the range of tools available to investors; and address the question of whether engagement can really make a difference. David Page, Director, Client Relations, will also provide unique insight into the Pensions Climate Risk Industry Group Guide for Trustees on Aligning your Pension Scheme with the TCFD Recommendations consultation and look at what questions trustees should be asking of their investment managers.
Attending the webinar will contribute 60-minutes to your CPD accreditation.
Lesley Alexander, PMI - Ian Baines, Nationwide - Jonathan Watts-Lay, WEALTH at work
We are pleased to invite you to a webinar on ‘Pension Change: a case study in creating positive member engagement during a Defined Benefit pension scheme closure’.
DB schemes are under increasing pressure to manage their costs and liabilities and the number of schemes considering their options are growing. A major challenge many will face is communicating changes to members who already have little contact with their pension scheme and limited understanding of how their benefits are provided. This timely case study shows how one DB scheme successfully achieved their goals, which should appeal to professional trustees, advisers and employers alike.
Ian Baines, Head of Pensions at Nationwide Building Society, will provide the background and an overview of the decision making process from an employer’s perspective. This will cover the successes and challenges in maintaining positive engagement and relations during a highly emotive process affecting 5,000 active scheme members.
Jonathan Watts-Lay, Director, WEALTH at work, will look at the employee experience including the support employees were offered and the lessons learned from this and other similar projects.
The session will then be opened to the audience for a live Q&A session.
Attending the webinar will contribute 60 minutes to your CPD accreditation.
Sammy Cooper-Smith, Rothsay Life | Myles Pink, LCP | Tim Middleton, Pensions Management Institute
Myles Pink from LCP will look back on the record year for BPA volumes in 2019 and comment on the outlook for volumes in 2020 and beyond. He will set out the key drivers of pension scheme demand including an overview of the long term strategies that many pension schemes are following: so-called journey planning. In discussing these drivers, Myles will comment on what impact the outbreak of Covid-19 is expected to have had on these strategies and pension scheme demand for buy-ins and buy-outs.
Sammy Cooper-Smith from Rothesay Life will go on to set out the perspective of the insurer by providing an overview of what drives value-for-money in the supply of insurance de-risking capacity to pension schemes. He too will comment on the impact of Covid-19 on these drivers. In particular, Sammy will focus on the impact of the pandemic on longevity reinsurance pricing and on the prices of assets that insurers invest in to support buy-ins and buy-outs.
Attending this webinar will contribute 60-minutes towards your CPD requirements.
Stewart Winter, Equiniti - John Wilson, Spence and Partners - Donna Dickie, Hymans Robertson - Simon Borhan, Linklaters LLP
There is massive unrest in the marketplace around this specific regulation, with a lot of uncertainty and a good deal of hesitancy from schemes to be pro-active in preparing for GMP Equalisation. Although this is no excuse for firms to continue postponing the problem – they must start assessing their data and getting on with the corrections that they will inevitably have to carry out.
Bringing together the "4 pillars" (administrator, actuary, lawyer, trustee) to discuss the challenges of GMP Equalisation we will cover;
- Data issues
- On-going admin
- Pragmatic versus pedantic consideration (combined with actuarial)
- Complexities of the calculations/methodologies
- Pragmatic versus pedantic considerations
- Liability impact
- Approach on the calculation of equalisation, i.e. from first principles or forms approach
- Historic look back to PPF
- Perspective from a custodian position
- Consideration of members and effect on the scheme
- Employer considerations around decision making
- The tax implications
- The legal debate
- Where we are, what’s current and what is to be expected/predicted
- Joined up advisory approach to resolve the issue
- Strap in for the long journey, it ain’t gonna be a short one
By attending this webinar you will achieve 90-minutes towards your CPD requirements.