Welcome to the Autumn Trustee Senate hosted by Professional Pensions.
As you step into this enlightening conference at the Wotton House, rest assured that your belongings will be attentively cared for while you immerse yourself in the enriching sessions of day one. Following the conclusion of the final session, you'll have the opportunity to check-in to the comfort of your room.
Along with our agenda full of fantastic speakers, you will also have the opportunity to utilise the venue’s facilities during your free time.
Jonathan Stapleton, Editor- in-chief, Professional Pensions
Opening Keynote Speaker Coming Soon!
Private markets are evolving, promising opportunities and challenges for the industry. Historically, pension schemes have favoured equities when constructing their portfolios, but with the emergence of innovative fund structures and investment vehicles, such as LTAFs, barriers to private market investing are falling away. None the less, the end of the "easy money era" requires new approaches to private market investing. So, how should pension schemes adapt their strategies to effectively embrace private markets in this new financial landscape?
This session will address:
- The pros and cons of private versus public markets
- Should pension funds allocate more to private markets?
- How should schemes react to government initiatives designed to boost pension fund's private asset investment?
- How have the Mansion House Reforms affected private markets?
An ideal opportunity to connect with fellow trustees and relish refreshments provided by Wotton House, for first class company and a second to none experience!
In January 2024, the pension surplus reached a record £265bn, a £100bn increase in a year. Despite the DWP releasing the final Occupational Pension Schemes Regulations, alongside unprecedented funding levels in recent months, concerns linger that the DB funding regulations missed the chance to provide clarity for schemes with surpluses.
This session will address:
- What options are available for schemes to best utilise significant surpluses?
- How will schemes combat a lack of flexibility that comes with surplus?
- What are the pros and cons of either buying out, or running on whilst managing the growth of surplus?
- Could regulations have gone further to facilitate new possibilities?
In the last decade, pension schemes of various structures have significantly increased allocations to illiquid assets. In contrast, UK DC schemes have been more cautious in entering the illiquid space. However, with the chancellor's Mansion House Compact, the stage is set for a substantial increase in illiquid assets. As this landscape evolves, what considerations should schemes bear in mind?
This session will address:
- Potential pitfalls and overlooked investment risks
- Lessons learnt from the September 2022 Mini Budget
- Strategies for schemes to adjust portfolios, optimising risk-adjusted returns and enhancing resilience
This is your chance to mingle, connect, and replenish your energy amidst the Trustee Senate's vibrant atmosphere. Join us in savouring a spread prepared to elevate your midday experience. Whether you're networking, sharing insights, or simply taking a moment to unwind; Take your seat, and enjoy!
Day 1 Boardrooms
2020 was the biggest year for cyber-attacks. After moving online in a post-covid world, most trustees still fear their members approaching retirement will be targeted by scammers, as schemes are now more than ever, vulnerable to significant attacks. Considering the economic climate, and many struggling from a cost-of-living crisis, it is our duty to both protect our members and make our infrastructure more resilient. As an industry we need to be treating the threat of cyber-attacks, not as "if we are going to be attacked", but "when we are going to be attacked".
This session will address:
- What are the newest scams we are seeing as an industry?
- What should admin be looking for and what are the signs of a scam?
- What have schemes been doing to protect their members?
- How can we continue to educate members to be safe from scammers?
- How can we make our infrastructure more resilient?
Last year, a consultation on trustee skills and registration aimed to enhance trustee capabilities and eliminate barriers to sound investment decisions. The trustee role is challenging and carries significant responsibility, requiring proper support, skills, knowledge, and experience for optimal outcomes for pension savers. Many DB sponsors anticipate a rise in the utilisation of professional independent trustees. Yet, the question remains: how will this affect board diversity and compromise the collective trustee board?
This session will address:
- What does the future of trusteeship look like?
- How do you ensure you have got the right skillset to be able to be ready for future decisions?
- What are the practical steps for upskilling? What is the value of lay and member nominated trustees?
- Does sole trusteeship affect DEI values and ESOG?
In recent years, the fiduciary management market experienced substantial growth in clients and assets under management. However, 2022 witnessed the first notable decline in asset values and client growth in over a decade. Fiduciary management has encountered challenges from factors such as Covid, the CMA retender process, and the LDI crisis.
This session will address:
- What are the pros and cons of Fiduciary management and who is it best suited for?
- How can smaller schemes access fiduciary management?
- How can schemes consider impact investing whilst meeting fiduciary obligations?
In recent years, the fiduciary management market experienced substantial growth in clients and assets under management. However, 2022 witnessed the first notable decline in asset values and client growth in over a decade. Fiduciary management has encountered challenges from factors such as Covid, the CMA retender process, and the LDI crisis.
This session will address:
- What are the pros and cons of Fiduciary management and who is it best suited for?
- How can smaller schemes access fiduciary management?
- How can schemes consider impact investing whilst meeting fiduciary obligations?
2020 was the biggest year for cyber-attacks. After moving online in a post-covid world, most trustees still fear their members approaching retirement will be targeted by scammers, as schemes are now more than ever, vulnerable to significant attacks. Considering the economic climate, and many struggling from a cost-of-living crisis, it is our duty to both protect our members and make our infrastructure more resilient. As an industry we need to be treating the threat of cyber-attacks, not as "if we are going to be attacked", but "when we are going to be attacked".
This session will address:
- What are the newest scams we are seeing as an industry?
- What should admin be looking for and what are the signs of a scam?
- What have schemes been doing to protect their members?
- How can we continue to educate members to be safe from scammers?
- How can we make our infrastructure more resilient?
- What does the future of trusteeship look like?
- How do you ensure you have got the right skillset to be able to be ready for future decisions?
- What are the practical steps for upskilling? What is the value of lay and member nominated trustees?
- Does sole trusteeship affect DEI values and ESOG?
- What does the future of trusteeship look like?
- How do you ensure you have got the right skillset to be able to be ready for future decisions?
- What are the practical steps for upskilling? What is the value of lay and member nominated trustees?
- Does sole trusteeship affect DEI values and ESOG?
In recent years, the fiduciary management market experienced substantial growth in clients and assets under management. However, 2022 witnessed the first notable decline in asset values and client growth in over a decade. Fiduciary management has encountered challenges from factors such as Covid, the CMA retender process, and the LDI crisis.
This session will address:
- What are the pros and cons of Fiduciary management and who is it best suited for?
- How can smaller schemes access fiduciary management?
- How can schemes consider impact investing whilst meeting fiduciary obligations?
2020 was the biggest year for cyber-attacks. After moving online in a post-covid world, most trustees still fear their members approaching retirement will be targeted by scammers, as schemes are now more than ever, vulnerable to significant attacks. Considering the economic climate, and many struggling from a cost-of-living crisis, it is our duty to both protect our members and make our infrastructure more resilient. As an industry we need to be treating the threat of cyber-attacks, not as "if we are going to be attacked", but "when we are going to be attacked".
This session will address:
- What are the newest scams we are seeing as an industry?
- What should admin be looking for and what are the signs of a scam?
- What have schemes been doing to protect their members?
- How can we continue to educate members to be safe from scammers?
- How can we make our infrastructure more resilient?
An ideal opportunity to connect with fellow trustees and relish refreshments provided by Wotton House, for first class company and a second to none experience!
Connection-ready means being 95% prepared to connect to the PDP ecosystem, which must happen for schemes between late 2024 and October 2026. Additionally, schemes must meet dashboard duties post connection, data matching, view requests at scale, report on data coverage rates, and be running on its integrated service provider. The lack of staging deadlines has deprioritised dashboards for many schemes, but that resourcing challenges within the industry mean action is necessary now. Despite guidance on dashboards, it is ultimately the responsibility of trustees to get data matching processes in order. If trustees address these challenges now, they will benefit from cost and time savings once dashboards are launched.
This session will address:
- How will dashboards work in practicality?
- What are schemes doing to get their data ready for Dashboards? •
- What are the challenges with preparing for dashboards and how hard are schemes finding them? •
- What can schemes be doing to overcome these challenges?
Jonathan Stapleton, Editor- in-chief, Professional Pensions
Please use this time to check-in to the comfort of your room.
Along with our agenda full of fantastic speakers, you will also have the opportunity to utilise the venue’s facilities during your free time:
As the sun sets and the atmosphere transforms, treat yourself to a selection of beverages and indulge in forging connections with fellow attendees. Cheers to creating memories, toasting to success, and embracing the spirit of togetherness in a setting designed to delight. Step into the allure of our drinks reception, where every connection is an opportunity waiting to be discovered.
Before dinner, enjoy a speech by our guest speaker (Details to come)
Experience an evening of fine dining hosted by Professional Pensions at the esteemed Wotton House. Set against the backdrop of this exquisite location, and sophisticated atmosphere of Wotton; This memorable dinner experience promises a night of refined dining and meaningful interactions that will leave a lasting impression.
Please note: programme is subject to change