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08:45– 09:30
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Delegate registration and networking
With refreshments
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09:30 – 09:35
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Chair’s opening remarks
Jonathan Stapleton, Editor, Professional Pensions
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09:35 – 10:00
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KEYNOTE ADDRESS: To be announced
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10:05 – 10:30
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Setting the strategic direction for your DC scheme
It is key to achieving the outcomes you want for your members to be strategic in the decisions you take. Challenges include
- How to improve outcomes for members when there is limited budget to spend
- How to implement complex investment solutions without bewildering your members
- How to improve trustee governance and decision-making processes
Sophia Singleton, Partner and Head of Defined Contribution Consulting, Aon
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10:35 – 11:00
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Mastertrusts
Session details to be announced
XPS
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11:00 – 11:20
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Morning networking break
With refreshments
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11:20 – 11:45
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Retiring with confidence
The way in which scheme members can access their pension benefits has not only emphasised the need to design an appropriate investment strategy, but also put pressure on the administration capabilities of many schemes to support them. The result is that often the two are misaligned, resulting in unintended consequences for DC savers. However, making small changes to the way we think about members' needs and utilising innovative investment techniques can enhance their overall outcome and support them to and through their retirement.
Andrew Connell, Head of Portfolio Solutions Group, Schroders
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11:50 – 12:15
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One size doesn’t fit all: assessing which DC governance model best meets your needs
In a rapidly changing DC market, we will argue that one size doesn’t fit all in terms of governance models. Our session will cover:
- High level overview of characteristics of various DC arrangements:
- Own-trust
- Master Trust – sole and dual governance
- Contract-based GPP
- Assess pros and cons of these arrangements
- Examine some case studies of clients who have successfully used different routes for their DC provision
Hymans Robertson
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12:20 – 12:45
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Default Funds in the spotlight
Defined Contribution schemes have experienced a massive upheaval with the advent of auto enrolment and the pension freedoms. Around 82% of DC scheme members are invested in the default fund, but with the rapidly changing use of funds at retirement, the structure of the default scheme in the approach to retirement has never been more important. This session will cover:
- The glidepath re-examined
- When is the right time to de-risk?
- The importance of member communication
- The challenges for older schemes
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12:45 – 13:35
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Networking lunch
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13:35 – 14:00
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Delivering Value for Money
In an age of greater accountability pension funds are under increasing pressure to reduce costs. This is particularly important for DC schemes where costs directly affect members’ pots. While asset manager fees have long been a source of debate, there are other costs which can play an equally important part in the attrition of pension fund wealth. In this session our expert speaker will look at:
- Costs overview
- Investment costs and non-invoiced fees
- Administration, regulation and governance fees
- Assessing value for money with differing segments within a scheme
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14:05 – 14:30
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From DB to DC – transfers examined
The advent of pension freedoms three years ago gave DC members a level of flexibility not available to those invested in DB schemes, kick-starting a rapid rise in transfers. The Pensions Regulator say around 100,000 DB transfers took place in the 2017/2018 financial year alone. Transfers can be beneficial for both DB schemes AND members – but the process needs to be carefully managed to achieve a positive outcome.
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14:35 – 15:00
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Emerging Market Debt: the opportunities for DC schemes
With interest rates at historic lows across the developed world, emerging market debt is increasingly attractive to institutional investors looking to broaden their fixed income allocations. Higher yields are only one attraction of this large, liquid and rapidly-expanding asset class; emerging market debt’s low correlation with more traditional fixed income strategies can also provide significant diversification benefits, helping to improve investors’ risk-adjusted returns. This session will look at:
- The macro driven approach: how to decide which emerging market to invest in
- The importance of local market intelligence
- EM asset classes: (local currency markets, external debt and corporate bonds)
- The relationship between emerging economies and the developed ones
- Challenges and risks to consider
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15:00 – 15:20
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Afternoon networking break
With refreshments
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15:20 – 15:45
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AFTERNOON KEYNOTE: To be announced
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15:50 – 16:15
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Risk re-examined
Risk, in the pensions industry, is usually associated with investment risk. But DC schemes have unique, separate issues, starting with the entire investment risk being passed from employer to member, the risk of a shortfall on retirement and even the potential reputational risk to an employer deemed to have inappropriate or non-compliant DC arrangements. In this session our expert speaker will consider the overall risks, with a specific focus on strategies to avoid the potentially life-changing risk of a serious shortfall in retirement income.
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16:20 – 16:50
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Panel: Communication and Engagement
Auto-enrolment and freedom and choice have made communications and member engagement a top issue; good communication underpins every area in DC, from how to explain investment decisions in a way that members understand, and dealing with governance requirements, to the all-important choices faced by savers when they reach retirement. In this session our panel will discuss best practice, and consider the behavioural drivers that can influence engagement.
- Educating different demographic sectors
- Supporting members at retirement
- Should schemes pay for member advice?
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16:50
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Close of Conference and Chair’s closing remarks
Jonathan Stapleton, Editor, Professional Pensions
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**Programme is subject to change**
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