Collective Defined Contribution (CDC) schemes are moving from concept to implementation, with the first multi-employer arrangements preparing to apply for authorisation. While politically endorsed, detailed regulatory guidance is still emerging, leaving trustees and employers weighing potential benefits against uncertainty.

This session examines CDC as a distinct benefit and investment model, exploring how collective risk-sharing changes outcomes, governance and long-term investment strategy. Drawing on early experience and emerging proposals, it focuses on what CDC may realistically offer, who it may suit, and what decisions schemes should, and should not, be making at this stage.

This session will address:

• How CDC differs from DB and DC in risk-sharing and benefit design
• How CDC enables different long-term investment approaches ?
• Which employers and schemes CDC may be appropriate for, and which it may not
• How trustees should approach CDC while guidance and authorisation evolve

Value for Money (VFM) is moving up the agenda. As regulatory frameworks develop, the conversation is shifting from whether to measure VFM to how to do it in a way that is consistent, comparable, and, crucially, useful for members and decision-makers.

From SEI’s perspective, VFM should be grounded in the total member experience and the outcomes delivered net of all costs, some distance from the current narrow focus on headline fees. That means assessing performance in context (objectives, risk taken, and time horizon), recognising the role of diversification and implementation, and testing whether governance and oversight of investment, administration and communication are strong enough to identify issues early and drive improvement.

This session explores what “good” looks like and if the framework proposed will end up even close to it. Will we have credible VFM assessments that support better member outcomes.

This session will address:

• What does “value” mean in a DC context—net outcomes, risk, member journey, and the quality of administration (not just fees)?
• How should the market balance objective historic evidence with forward-looking expectations, without creating incentives to game metrics or avoid long-term investment?
• Will the proposed framework work or be another regulatory burden that ends up a long way from the original objective and not serve the purpose it was meant for?

The pension landscape is set to change dramatically in the coming years. Member expectations and behaviours will change with it. How we adapt to this change and convert policy into practice, will be vital for success of the Dashboard, the transfer system and small pot consolidation. This session will explore how to make this happen, and what it means to deliver for members, while maintaining confidence, clarity and trust.

This session will address:

• How the Dashboard will impact member behaviour, transfer and small pots consolidation
• What the future framework for small pots consolidation could look like
• What consolidation means for schemes managing deferred pots
• What the future system infrastructure of pensions transfers, small pots will need to deliver
• How to maintain member confidence and trust throughout consolidation

Victoria Baker-Duly, Head of EMEA Private Equity Capital Formation at Goldman Sachs Asset Management will provide a forward-looking overview of the private equity landscape, highlighting the structural tailwinds underpinning the asset class’s continued growth. She will explore how private equity is evolving to meet the needs of a broader investor base, including the increasing relevance of evergreen solutions in improving access, liquidity and portfolio integration. The session will also examine the core drivers of value creation, from strategic positioning to operational execution. Attendees will gain a clear, practical perspective on how private equity can deliver differentiated, long-term outcomes for DC investors.

Schemes are increasingly exploring the role private markets can play in supporting long-term investment objectives. Alongside these opportunities, they introduce new challenges and considerations.

This session aims to provide a practical overview of how private markets work in a DC context, the key risks around liquidity, cashflow management and exit constraints involved and how these can be managed in practice. It will look at the governance frameworks required to support illiquid assets and how capabilities may need to evolve as allocations increase.

This session will address:

• The key risks associated with private markets and how they can be managed
• How liquidity, exits and cashflow profiles affect portfolio design
• The governance frameworks needed to support private market investing
• How governance capabilities evolve as portfolios become less liquid

In this topical session, we'll look at saver actions to fiscal events through a behavioural science lens:

• Why do pension savers act before policy changes happen?
• Can rumours about tax changes be as influential as the changes themselves?
• How should providers and advisers communicate during periods of fiscal uncertainty?
  

Guided retirement is emerging as one of the most significant developments in the DC market, aiming to provide clearer retirement pathways for members. As the policy framework continues to evolve, schemes, providers and trustees are beginning to grapple with what this will mean on the ground.

Drawing on perspectives from both policy and provider practice, this session will explore the practical realities of building and delivering guided retirement solutions, from the fundamental redesign of member journeys and proposition architecture, to the DWP's roadmap and the question of how retirement-only CDC might align with implementation timelines.

Research in Finance will deliver a data-led view of the forces reshaping the UK pensions landscape, exploring how investment allocations are evolving, how regulation is influencing industry direction, and what this means for long-term retirement outcomes.

Drawing on the latest research and behavioural insights, the session will examine changing attitudes towards saving and investing across generations, alongside the ongoing challenge of member engagement and what genuinely works when communicating pensions and investing to different audiences.

This session will address:

• Where the UK pension landscape is heading (investment allocations and direction of movement)
• What direction regulation is forcing the industry
• Attitudes towards saving and investing - how older and younger investors differs
• How to engage Gen Z investors
• RiF’s view on how to get members engaged in their pension - what works and what doesn’t work when trying to engage audiences in the investment world

End the day with refreshments and conversation. An opportunity to exchange perspectives, revisit key themes and connect with peers across the industry.