Name: What can pension schemes learn from Master Trusts?
Start: 2021-09-22T08:30:00Z
End: 2021-09-22T09:14:43.000Z
Location: BrightTALK
Rating: 4.6

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.

Delivering pensions in a digital world: This session will discuss the future of digital provision in the pensions industry, opening with the immediate future and the Pensions Dashboards Programme, it’s delivery, and its impact for schemes, trustees and members.

Looking to the medium term we’ll review the push to automate the administration of pension schemes, the issues preventing this, and the costs and benefits of this work.  Further ahead we’ll consider what technological advancements can bring to the administration of pension schemes, what is driving the adoption of new technology and who these developments are likely to benefit.

Throughout, we’ll consider where the member sits within the journey to a digital future, what may prevent online provision from being a success for members, trustees and administrators.

Delivering pensions in a digital world

David Jamieson, Senior Market Strategist at Insight Investment, explains the ramifications of the recent gilts crisis, offers an overview of UK interest rates and inflation, and considers the implications for LDI strategies.

Pension schemes, gilts and LDI: lessons learned and next steps

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.

With this in mind the PMI, supported by WEALTH at work, a leading financial wellbeing and retirement specialist, are running ‘Managing your finances as you approach retirement’ taster sessions which will show you ways to help your employees manage their money and still be able to save for a happy retirement. The Taster sessions which will last for 1 hour will be running on Thursday 16th March, Thursday 13th July & Thursday 12th October 2023 and are open to all PMI members as well as affiliated employees and pension scheme members.

The “Managing your finances as you approach retirement’ taster session will provide an improved understanding of how your employees manage their finances leading up to and into retirement, which in turn will enable them to make better retirement decisions.

RetirementMatters Taster: Managing your finances as you approach retirement

Welcome to the third issue of the Annual UK pension scheme survey from the PMI in conjunction with Schroders Solutions.

As the industry saw so much transformation change in 2022 the survey focused on the recent liquidity crisis and its impact on trustee agendas in 2023. The survey and webinar discussion will reveal the actions pension schemes will be taking with respect to investment governance models, LDI portfolios, oversight and endgame strategy to name but a few.

Today’s 2023 survey findings will not only help trustees plan and prioritise but it will also help service providers to understand how best to work with them to develop solutions and services that match their changing needs.

Navigating the key issues facing schemes in 2023

Back in May 2022, we ran a series of webinars for our members, to present to them our initial ideas for the membership and qualifications journey. This was then followed by an in-depth consultation process to capture our member’s feedback before we developed the membership and qualification proposition further.

Join us at this upcoming webinar to see the future of the institute’s membership and qualifications pathways. You will see how your feedback has guided us in developing this structure, how it will affect you as a learner or a member, and what it will mean for you in the future.

PMI Pathways – PMI Membership and Qualifications journey update

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

Wiltshire Pension Fund recognises that climate change is the biggest threat they face, now and in future years. Their goal is to protect the investments from climate change risk, and safeguard the financial future of the Fund. 

In this film we learn how they design their investments strategy in order to achieve this and deliver positive change for their members.

Wiltshire Pension Fund | Purposeful Pensions | Short

Wiltshire Pension Fund recognise the huge importance of investing in socially and environmentally beneficial assets, with a goal of protecting the investments from climate change risk, and safeguarding the financial future of the Fund. 
Having recently been surveyed, their members, too, have expressed a desire to see the fund invest in sustainable, low-carbon assets. 

Acknowledging that the fund will be extant for at least the next one hundred years, their aim is to invest in a financially sustainable way that delivers returns for their members in the long term. 

With their own net zero carbon by 2050 goal, Wiltshire Pension Fund know that climate change presents the biggest tangible threat to the fund, and a key investment strategy is to help businesses transition to low-carbon futures in order to negate future risks. And from the need to deliver real-World change, opportunities for investment also present themselves.

Whether it’s a solar farm or a carbon-neutral greenhouse, it’s the fund’s firm belief that investing in positive environmental assets can be done in conjunction with achieving positive financial return. Wiltshire Pension Fund wants their members to feel proud that their contributions are helping to deliver positive change for future generations and for the planet.

Wiltshire Pension Fund | Purposeful Pensions | Full

The pensions industry needs to change to keep pace with the modern world. In this film we explore how Trafalgar House is at the forefront of that change and understand through their work with Siemens and in ESG, how that change is made possible.

Trafalgar House Pensions Association | Purposeful Pensions | Short

TPR’s Draft Funding Code has now been published, together with a consultation on the twin-track regulatory approach. There is lots of detail (with more guidance to come in 2023) on TPR’s expectations of trustees regarding assessment of covenant and how to factor covenant into journey planning. The new regime goes live from October 2023 so it is worth thinking about what it all means for your defined benefit pension schemes.

Whether your scheme is likely to be in Fast track or Bespoke, covenant remains the ultimate underpin for scheme risks and the requirement to assess covenant will be enshrined in legislation.

Covenant in the context of the New Funding Code

Trafalgar House is a pensions administrator that believes outsourcing to market specialists delivers better outcomes. The use of a specialist administrator reduces risk and helps services meet the expectations of the modern world. Technology and member demand mean the pensions industry needs to keep up with the fast-paced online engagement required of today’s service providers. Trafalgar House supported Siemens throughout their outsourcing journey, leveraging technology and expertise in transferring the administration service, and the in-house pensions team, to Trafalgar House. The ESG credentials of Trafalgar House are a vital and important part of their business. We explore how they have been implemented, in partnership with Siemens, to cut waste and transform services. Trafalgar House share insights into their digital services and demonstrate how they are an administrator that is leading the industry.

Trafalgar House Pensions Association | Purposeful Pensions | Full

Environmental, social and governance factors present a huge challenge and significant risk to pension funds, yet their continual evolution also provides opportunities. How should pension funds and their trustees adapt their operations to achieve this? Watch this film to find out.

The ever-evolving ESG landscape | Purposeful Pensions | Short

Environmental, social and governance factors have a definite financial impact in today’s world. As the world continues to change at a quickening pace, pension funds such as TPT are facing an ever-evolving ESG landscape. 

TPT knows the importance of being aware of this evolution, and in turn adapting their operating practices in order to keep up with it. What could falling behind and missing investment opportunities mean for a pension fund, and how might that affect their members?

TPT, working with its investment consultancy Redington, has identified that we are facing the biggest change in the global economy since the industrial revolution. Trustees must be aware of shifting risk factors today, in order to pay pensions tomorrow.  
Savers want a return, but also to contribute to a better society for themselves and future generations. In this film, we learn how TPT manages its investment strategies with conviction to keep that goal firmly in mind, and we see what trustees can do to manage their own assets, responsibly.

The ever-evolving ESG landscape | Purposeful Pensions | Full length

Currently, there are over 1.1 million families registered as in need of a home in the UK and investing in social housing can help solve this problem.  Pension schemes are able to invest in this asset class within fiduciary duty, as well as recirculate money in the economy to offset societal imbalances.

The People Behind the Numbers | Purposeful Pensions | Short

In this film, we meet families who can directly benefit from impactful investment in social housing.  Connected Asset Management, in partnership with local social housing enterprises, has created an innovative way for pension funds to intentionally help those in need as well as provide positive financial returns on investment.
Currently, there are over 1.1 million families registered as in need of a home in the UK and investing in social housing can help solve this problem.  Pension schemes are able to invest in this asset class within fiduciary duty, as well as recirculate money in the economy to offset societal imbalances.
We learn about the positive long-term impact this can also have on children; re-building lives and flourishing friendships.

The People Behind the Numbers | Purposeful Pensions | Full

We are excited to inform you about the upcoming UK launch of the OECD Pensions Outlook 2022. The OECD is working with the PMI to promote its biennial publication that provides an analysis of the latest developments in pension policies in OECD countries, covering both public and private pension systems, as well as an assessment of trends in retirement income systems.

The OECD biennial publication will in 2022 look at some of the key themes shaping retirement income policies globally. The publication is respected among global pension policymakers in helping define priorities and address consumer needs that reflect the changing economic circumstances which are being confronted today as in tomorrow. In the publication the building blocks of good DC plan design are discussed along with how retirement income products are evolving. In a post COVID 19 world, this publication will be especially salient as many countries’ populations continue to age and confront difficult economic circumstances. The publication has in the past encouraged a very effective dialogue to be generated among key pension policy stakeholders who are seeking solutions for complex, practical, pension problems.

Presentation of the recently published OECD Pensions Outlook 2022

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!

Master Trusts are now amongst the most popular form of pension savings.

What can pension schemes learn from Master Trusts?

Pensiona

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What can pension schemes learn from Master Trusts?

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