Programme List - Risk Reduction Forum 2019


08:45 – 09:30

Delegate registration and networking with refreshments

09:30 – 09:35

Chair’s welcome and opening remarks

Jonathan Stapleton, Editor, Professional Pensions

09:35 – 10:00

Opening Keynote: A holistic approach to risk

An integrated approach to risk that looks beyond funding and investment is essential for schemes to meaningfully address their pension risk. In this session PwC's Pension Strategy Lead Steven Dicker will evaluate the available tools and options to arrive at a strategy to achieve the target position - by doing the right things in the right order at the right time.

Steven Dicker, Partner and Pensions Strategy Lead, PwC

10:05 – 10:30

Striving for a more certain world

As trustee attention shifts towards end-game solutions this session looks at how Cashflow Driven Investment (known as CDI), one of the newer additions to the pension investment tool kit, can be helpful for trustees. We will explore the following areas:

  • What CDI is - and importantly how it differs to other approaches
  • Why is it relevant to trustees - what specific problems that I currently face (or will face) will it help me solve, and what are the benefits?
  • How CDI is implemented - what are the key considerations?
Hannah Simons, Head of Fiduciary Management, Schroders

10:35– 11:00

The return of the buyout

Reduced insurer pricing and improved scheme funding positions combined with a significant uptake in liability management through transfer values have had a huge impact on the cost of full buyout for many schemes. Schemes that were hoping to reach buyout in a 10 to 15 year timeframe are finding that they could be within scope now if they conduct a combine a suitable liability exercise with seeking out the best buyout pricing. So what is driving the resurgence in buyout, and how can schemes maximise their own opportunities to get there?

Mike Edwards, Partner, Aon

11:00 – 11:25

Morning networking break with refreshments

11:25 – 11:50

The Trustee Conundrum: delivering required returns in risky environments

During 2018, market volatility returned. As 2019 looks equally uncertain, Phil will explore ways to build robust portfolios and deliver more certain returns for your members in uncertain times.

Phil Redding, Head of UK Business Development, Cardano

11:55 – 12:20

Planning the Journey to Full Funding

Most DB Pension Schemes are still at the starting line in their journey to full funding. This session will look at the stages Trustees and Scheme Sponsors need to go through to get to the finishing line and achieve full funding, and consider the different ways in which this can be achieved.

Martin West, Senior Actuary, Capita


Dealing with data

Data has never been more important to trustees and pension managers. The quality and accuracy of members' data has played a pivotal role in everything from auto-enrolment, GDPR compliance, and the development of the dashboard. Data is also key to a successful outcome from de-risking exercises like buy ins/buy outs, PIE, longevity swaps and trivial commutation. This session will look at key considerations for a robust data strategy.

Akash Rooprai, Head of Client Management, ITM

12:50 – 13:50

Networking buffet lunch

13:50 – 14:15

Afternoon Keynote: The changing face of pensions

An important part of any risk strategy is to lift our head up and look at the future. Change is inevitable, retirement for today's twenty year old when it comes will look unlike any retirement journey we know today. Technology has transformed the way we live our lives but hasn't yet had a significant impact on pensions. Jo Hill will talk about how the pensions regulator is beginning to frame these questions, and what we should be doing to ensure pensions are fit for the future.

Jo Hill, Executive Director of Strategy and Risk, The Pensions Regulator

14:20 – 14:45

Preparing for Bulk Transfers

With bulk annuity transactions at record levels, the market has become supply driven. As a result, trustees must prepare carefully if they're to secure insurer engagement. Prash and Rob will explore the practical steps trustees should take to prepare for a transaction and secure participation from insurers. They'll also provide tips on how to achieve the best value and provide an insurer view of the market.

Rob Mechem, Head of Business Development, DB Solutions, Just
Prash Mehta, Business Development Manager, DB Solutions, Just

14:50 – 15:15

Is current endgame planning flawed?

The challenges facing a ship coming into port are very different from the risks in open water. It is the same for a pension scheme navigating towards an end-game position. Even if you outsource the final stage of the member journey, you still first need to get reasonably close to port. Whether a scheme is trying to reach buyout, or become self-sufficient, Russell Lee will give an insurer's perspective on the navigational hazards. He will also touch on some of the recent innovation available as schemes approach their endgame.

Russell Lee, Head of Client Solutions, Legal & General

15:20 – 15:55

Panel: Consolidation: The answer for failing smaller schemes?

The highly fragmented DB pensions sector is ripe for consolidation; the PPF's Purple Book reveals that of the 5,450 DB schemes listed, 36% have less than 100 members and another 44% have less than 1,000 members. TPR has repeatedly highlighted the regulatory challenge posed by small DB schemes, and consolidation was a key focus of the DWP's recent DB White Paper. In this session our expert panel will discuss the pros and cons of consolidation, and ask if claims of improved funding, economies of scale and better governance offer better outcomes than more traditional de-risking exercises such as insurance transactions.

Tim Coulson, Director, DB Solutions, Just
David Fairs, Executive Director of Regulatory Policy, Analysis and Advice, The Pensions Regulator
Clive Pugh, Partner, Burges Salmon
Adam Saron, CEO, Clara Pensions

15:55 – 16:00

Chair’s closing remarks and close of conference

Jonathan Stapleton, Editor, Professional Pensions