Name: Changing the rules for the endgame
Start: 2020-05-18T08:30:00Z
End: 2020-05-18T09:29:09.000Z
Location: BrightTALK
Rating: 4.38

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.

A decade of falling gilt yields has reversed in just a few months of 2022, slashing DB liabilities. As a result, it’s been estimated that almost 50% of schemes are fully or close to full funding on a buyout basis. Coupled with relatively attractive insurer pricing, especially for deferred members, we’ve seen demand for buyout increase as more and more schemes discover it’s already affordable. In this training, we’ll examine the impact of this market volatility on trustees and their end game planning, discuss a case study, explain how we can help trustees and deliver our top tips on securing a bulk annuity.

Is buyout closer than you think? The impact of market volatility

Since December 2019, the CMA Orders have required all DB Trustee boards to set Strategic Investment objectives for their Investment Advisers (IA), whether an IC or FM. 

This webinar will explore the legal perspective, and demonstrate how Trustees can meet their regulatory obligations, measure success of their IA and ensure value for money for their members and sponsor.

Setting Strategic Investment Objectives: tick box or driving improvement

Invesco Real Estate’s team of Fund managers go head-to-head in this “game show” session pitching 3 real estate strategies popular with UK pension schemes today. You pick who wins the capital!

Trustee Workbench - Dragons Den - Real Estate Edition!

Pension scheme assets are migrating - driven by a host of "push" and "pull" factors. Regulation is a "push" into more sustainable investments and lower risk strategies. In turn, schemes feel the "pull" of better relative opportunities in private assets and the governance benefits of Fiduciary Management. These longer-term factors sit in the near-term context of heightened volatility and a weakening economic environment. Many schemes have been "pushed" to sell assets at inopportune times to meet liquidity needs, skewing their portfolios. In this session our speakers illuminate the challenges faced by schemes today, large and small.

Trustee Workbench - The push and pull factors on pension scheme assets

Demand for Buy and Maintain credit strategies is rising as a growing number of DB schemes approach their endgame.

Along with de-risking, schemes are taking advantage of the flexibility offered by Buy and Maintain to build portfolios tailor-suited to their specific needs. Whether capturing yield enhancement, matching cashflows to meet liabilities, or making sure the carbon profile of the investments reflects a scheme’s ESG strategy; successfully implementing a custom Buy and Maintain strategy requires an open dialogue between trustees and fund managers to agree on a strategy.

This session will focus on the questions that schemes need to ask Buy and Maintain managers to ensure their Buy and Maintain credit investments are best aligned to their needs and values ­– at implementation and in the future.

Trustee Workbench: Building better Buy and Maintain credit portfolios

The cost of everything is rising and for pension scheme members, this means their money priorities are changing too.

Right now, talk of saving and financial wellbeing may feel misplaced, and for those running pension schemes it can be difficult to know how to support their members both today and for the future.

Drawing on principles of crisis communication and behavioural psychology, our webinar shares practical approaches and strategies to the cost-of-living crisis.

PensTech and Admin Summit - Communicating in the cost-of-living crisis

Cyber security remains a hot topic, and the new Single Code will further raise requirements on schemes.  This session will provide an overview of managing cyber risk, with case studies, practical steps you can take, and a deeper dive into some of the key actions.  It will cover:
• The types of risks that pension schemes are exposed to and how those are changing
• How to reduce the risk of an incident, including managing third party providers
• Managing trustees’ own risks, including the pros and cons of online board portals
• How to deal with an incident should it happen
• Demonstrating that you meet the Single Code’s requirements
• Whether pensions dashboards are something schemes should worry about
Whether you are a small scheme with limited resources or a large schemes with an in-house pension function, the session will have something for you.

PensTech and Admin Summit-Cybersecurity: Assessing the risks for Pension Schemes

This session will look at why a Governance-led approach to sustainability is the best for addressing climate-related risks and opportunities. Governance-led sustainability looks to implement a governance framework to address reporting and achieve best practise using a project-based approach, which brings in the right expertise at the right time in order to meet the regulatory requirements that Pension schemes currently/will be subjected to.

PensTech and Admin Summit - Governance-led sustainability

In order for Dashboards to be successful, data needs to accurate and up to date . This session will look at the latest developments on the journey to dashboard readiness and who needs to do what. It will also cover the latest techniques and technology being applied to help clients clean, interrogate and report on their data to create better outcomes.

PensTech and Admin - Data & Dashboards – you can’t have one without the other

Are you prepared for the new code and demonstrating your pension scheme has an effective system of governance for your investments? With extensive sections of the new Code covering requirements on investment governance, decision-making, climate change and stewardship among other areas, our team show you how you can approach these areas. When setting investment strategy, we think it is essential for investors to understand Aims, Beliefs and Constraints. Or, as we call it, ‘knowing your ABCs. We help investors to understand their ABCs for both their wider investment strategy as well as focussing on sustainable investing, resulting in a clear effective governance framework against which investment decisions can be tested and monitored while improving efficiency of decision making. Join Amanda and Jordan for an insightful session on how you can build and demonstrate your effectiveness in investment governance.

ESoGraphy 101: building your effective investment governance framework

- It’s estimated the gender pension gap is 17% at the beginning of women’s careers reaching as high as 56% at retirement compared to men.

- Auto-enrolment has seen a dramatic change in the pensions industry; more people, including more women, people from ethnic minority backgrounds, young people, disabled people, and people on low incomes, are saving into pensions.

- Cost of living worries risk some members reducing or ceasing pension contributions with potentially significant long term impacts.

How can employers and Trustees deal with these challenges to ensure we get the best outcomes for all workplace savers? Our panel will explore these areas in more detail and how engagement can help raise awareness.

Gender pension gap, DE&I, and member engagement

We are pleased to announce that we will be holding our seventh PMI Lecture on 19 October 2022. The PMI annual lecture has become a must-attend event for those looking for something a little different to the usual pensions events.

Annual Lecture 2022- The cost of living crisis: what does it mean for consumers?

Sackers will lead a discussion on what making a net zero commitment means in practice. The panel will include representatives from Sackers and TfL Pension Fund, who have made a public commitment to Net Zero.
 
As net zero increasingly becomes a standard for trustees looking to publicly embed their ESG beliefs into policy, it can be unclear what is meant by such a commitment and what trustees should be considering. TfL will discuss what this means in reality and how they have approached making a net zero commitment.

Net zero in practice

Recent performance of assets and sharply increasing risk free yields have combined to bring scheme’s end games (including bulk annuity insurance) into the reach of many more schemes. The result has been an acceleration of schemes coming to market targeting a buyout.

Whilst pricing is relatively attractive, we expect demand to remain high or even increase. Forearmed is forewarned and this session will look at the issues that trustees need to consider if they have yet to define their end game or are planning on approaching the bulk annuity market.

Trustee Workbench - Adapting for an end game in an evolving market

On 28 April, the Pension Schemes (Conversion of Guaranteed Minimum Pensions) Act 2022 was given Royal Assent. Margaret Ferrier’s Private Member’s Bill will finally end nearly 32 years of uncertainty as to how pension schemes should equalise Guaranteed Minimum Pensions (GMPs) following the European Court of Justice’s judgment of 17 May 1990 concerning the Barber case. This development will be particularly welcome to schemes seeking buy-out as it at last provides trustees with a legally binding solution to a long-term solution.

To discuss the full implications of this new development, PMI’s Tim Middleton will be joined by an expert panel of a trustee, a lawyer and an actuary. This session will be of particular interest to trustees, consultants and anyone who has followed the legacy of the Barber Judgment.

PMI Trustee Workbench - Panel Discussion: GMP Equalisation Conversion Bill

Schemes sponsors and Trustees are working hard to get dashboard ready, but in the mix of legislative updates, technical service demands and the need to make sure that data is accurate, we need to ensure we do not lose sight of who this is all for – the members.

This interactive webinar will be hosted by Charlie Lambert, Director - Strategy & Product at Capita Pension Solutions. Charlie will be joined by Paul Capel, Director - Client Services and business lead for the Capita Pension Solutions Pensions Dashboard Programme and Geraldine Brassett. Geraldine is a Client Relationship Director at Capita Pension Solutions and is also a well-known chair of a variety of industry groups. Geraldine is a member of the PASA Pensions Dashboard Working Group and Chairs their Dashboard Client Experience Sub-Group.

Keeping members at the forefront of pension dashboards

Pension board of trustees are increasingly being held accountable for key areas that directly impact their pension scheme. However, often little time or consideration is given to the complexity of the work that goes on behind the scenes. More and more Pension Boards are leveraging technology to improve collaboration and governance. 

Join Catalina Esler, Senior Governance Manager at Evolve Pensions, Daniel Jacobson, Senior Consultant at Lane Clark & Peacock LLP, Anderson Dy, VP of International Sales at OnBoard and Tim Middleton, Director of Policy and External Affairs at PMI on the 14th of September at 2pm BST, when they will be looking at how the latest technology, such as OnBoard, can be used to better enable Pension boards to manage the complexity of the work they undertake.

How technology can improve governance and collaboration in Pension Boards

Cardano, Sackers & 20-20 Trustees will explore how the Pension Schemes Act 2021 has affected the approach taken by trustees and sponsors towards corporate activity and its impact on employer covenant.

Implications of PSA21 on corporate activity in practice

With many mature Defined Benefit schemes preparing for a buy-out, what is the scale of disruption caused by COVID 19? How should portfolios be reconstructed, and how long will it take to recover?

By attending this webinar you will achieve 45-minutes towards your CPD requirements.

Changing the rules for the endgame

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Changing the rules for the endgame

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