After seeing Rishi Sunak replace Liz Truss in October last year, sterling edge rose after the announcement, plus gilt yields fell, bringing hope that borrowing costs will continue to ease. Meanwhile, the FTSE UK's main equity indexes reached session highs. Many have said that the speed at which the new Prime Minister has entered number ten, has been the most market friendly that was possible in the short term. However, experts warned Sunak's honeymoon period will not last, as there is the brewing recession, soaring energy prices, inflation running at more than 10%, labour gaps, ongoing supply chain dramas, and the BoE intent on hiking interest rates. With the economic future remaining fraught, inflation too high, and UK investors struggling in a storm of economic problems; How can we ensure the smoothest 2023 possible?
This session will address:
- What impact has the cost-of-living crisis had on inflation?
- How will the local election on the 4th May affect our schemes?
- Are we heading into a global recession, and how could this affect schemes?
- How can we best prepare for what the rest of 2023 has for us?
The Pensions Regulator's new single code of practice is soon coming into force, merging ten existing codes into a single document, and providing a lot of potential value to schemes. Compliance with this code brings about an opportunity to rid of out-of-date policies, reflect modern working practices, and improve governance as well as documentation. Whilst this is a good opportunity for schemes, trustees will need to prepare for the work ahead of implementation.
This session will address:
- Will the single code improve member communications?
- How can trustees improve their communications with administration in compliance with the single code?
- How can schemes ensure any new governance procedures, in compliance with the single code, maximise efficiency?
- Providing examples of what schemes are doing effectively so far
Member engagement has been an ongoing challenge for the industry. With high interest rates, inflation, and the cost-of-living crisis, member outcomes should be a focus of the DC workplace market. Therefore, in a constantly changing industry, it is crucial for us to assist members to understand what retirement might be like. With so many options and outcomes, it is also important members choose what the right option for them is.
This session will address:
- Case studies from members that have now finished their retirement journeys
- What common member feedback are we seeing in the industry?
- How can we improve member experience using this feedback?
- What further options can we offer members running up to/after retirement?
- Should members have more or less control over their own outcomes?
- A market analysis for buy-in and buy-out options
- What options are available for schemes to buy-in/buy-out?
- Is it always valid to buy-out?
- A case study/analysis of a scheme's endgame journey
Despite the current economic climate, it is no surprise that schemes are finding themselves with an improved funding position. In the past, full buyout of scheme benefits with an insurer was viewed as the gold standard endgame that all trustees and sponsors should aspire to. Yet, it is not always suitable for all schemes, as accounting implications and other emerging drivers appear to be leading some sponsoring employers to consider other options.
This session will address:
- Are trustees still aiming for the ‘gold standard’ buyout, and why?
- What new alternatives are there in the endgame space at the moment?
- How does the size of you scheme affect what options are suitable for you?
The workplace pension marketplace is fast changing and master trusts are the key driver of this. Looking ahead to 2023, it is clear winning in this market means better value for savers, accessible interfaces for users and opportunity to invest responsibly. Size and efficiency are important for this, alongside a leap forward in technology too. Members of defined contribution (DC) master trusts increasingly want to see investment choices that offer more ESG options. So, it is imperative providers put plans in place to introduce an impact choice. It's ultimately all about the members, safeguarding their choices and interests, as well as encouraging retirement planning before it’s too late. Master trusts are recently providing some of the industry's best improvements- So what can we learn from them?
This session will address:
- How can we increase the number of DC members with an effective "at-retirement" strategy?
- How can we increase impact choice for our members?
- What can we learn from the DC master trusts' tougher regulation, that can be applied to Defined Benefit (DB) master trusts?
- How can we use master trusts to consolidate smaller schemes?
The UK is the first country to start mandating TCFD-aligned climate disclosures and businesses will have to factor it in to their annual reports, which will take schemes time and effort. Despite worsening ecological issues in our world, ESG frameworks have been questioned due to greenwashing scandals, unreliable impact data and the complexity of environmental investments. It is a huge risk for schemes for ESG to take a backseat as sustainable investing is the future and getting it right now will help your scheme when investing in environmentally unsustainable options becomes economic.
This session will address:
- Where does ESG stack up in a harder world- For example, post LDI crisis?
- How to best invest in this emerging market, and what benefits are to be gained from being at the forefront of sustainable investing
- How can metrics be misleading and what do we need to look out for?
- How are schemes getting on with TCFD reporting?
The UK is the first country to start mandating TCFD-aligned climate disclosures and businesses will have to factor it in to their annual reports, which will take schemes time and effort. Despite worsening ecological issues in our world, ESG frameworks have been questioned due to greenwashing scandals, unreliable impact data and the complexity of environmental investments. It is a huge risk for schemes for ESG to take a backseat as sustainable investing is the future and getting it right now will help your scheme when investing in environmentally unsustainable options becomes economic.
This session will address:
- Where does ESG stack up in a harder world- For example, post LDI crisis?
- How to best invest in this emerging market, and what benefits are to be gained from being at the forefront of sustainable investing
- How can metrics be misleading and what do we need to look out for?
- How are schemes getting on with TCFD reporting?
Despite the current economic climate, it is no surprise that schemes are finding themselves with an improved funding position. In the past, full buyout of scheme benefits with an insurer was viewed as the gold standard endgame that all trustees and sponsors should aspire to. Yet, it is not always suitable for all schemes, as accounting implications and other emerging drivers appear to be leading some sponsoring employers to consider other options.
This session will address:
- Are trustees still aiming for the ‘gold standard’ buyout, and why?
- What new alternatives are there in the endgame space at the moment?
- How does the size of you scheme affect what options are suitable for you?
The workplace pension marketplace is fast changing and master trusts are the key driver of this. Looking ahead to 2023, it is clear winning in this market means better value for savers, accessible interfaces for users and opportunity to invest responsibly. Size and efficiency are important for this, alongside a leap forward in technology too. Members of defined contribution (DC) master trusts increasingly want to see investment choices that offer more ESG options. So, it is imperative providers put plans in place to introduce an impact choice. It's ultimately all about the members, safeguarding their choices and interests, as well as encouraging retirement planning before it’s too late. Master trusts are recently providing some of the industry's best improvements- So what can we learn from them?
This session will address:
- How can we increase the number of DC members with an effective "at-retirement" strategy?
- How can we increase impact choice for our members?
- What can we learn from the DC master trusts' tougher regulation, that can be applied to Defined Benefit (DB) master trusts?
- How can we use master trusts to consolidate smaller schemes?
The workplace pension marketplace is fast changing and master trusts are the key driver of this. Looking ahead to 2023, it is clear winning in this market means better value for savers, accessible interfaces for users and opportunity to invest responsibly. Size and efficiency are important for this, alongside a leap forward in technology too. Members of defined contribution (DC) master trusts increasingly want to see investment choices that offer more ESG options. So, it is imperative providers put plans in place to introduce an impact choice. It's ultimately all about the members, safeguarding their choices and interests, as well as encouraging retirement planning before it’s too late. Master trusts are recently providing some of the industry's best improvements- So what can we learn from them?
This session will address:
- How can we increase the number of DC members with an effective "at-retirement" strategy?
- How can we increase impact choice for our members?
- What can we learn from the DC master trusts' tougher regulation, that can be applied to Defined Benefit (DB) master trusts?
- How can we use master trusts to consolidate smaller schemes?
The UK is the first country to start mandating TCFD-aligned climate disclosures and businesses will have to factor it in to their annual reports, which will take schemes time and effort. Despite worsening ecological issues in our world, ESG frameworks have been questioned due to greenwashing scandals, unreliable impact data and the complexity of environmental investments. It is a huge risk for schemes for ESG to take a backseat as sustainable investing is the future and getting it right now will help your scheme when investing in environmentally unsustainable options becomes economic.
This session will address:
- Where does ESG stack up in a harder world- For example, post LDI crisis?
- How to best invest in this emerging market, and what benefits are to be gained from being at the forefront of sustainable investing
- How can metrics be misleading and what do we need to look out for?
- How are schemes getting on with TCFD reporting?
Despite the current economic climate, it is no surprise that schemes are finding themselves with an improved funding position. In the past, full buyout of scheme benefits with an insurer was viewed as the gold standard endgame that all trustees and sponsors should aspire to. Yet, it is not always suitable for all schemes, as accounting implications and other emerging drivers appear to be leading some sponsoring employers to consider other options.
This session will address:
- Are trustees still aiming for the ‘gold standard’ buyout, and why?
- What new alternatives are there in the endgame space at the moment?
- How does the size of you scheme affect what options are suitable for you?
The last few years have been extremely busy for The Pensions Regulator, introducing numerous policy initiatives such as: new powers under the Pension Schemes Act 2021, collective defined contribution, pensions dashboards, and the development of TPR's new defined benefit (DB) funding code. The industry is supportive of the DB funding code consultation launched on the 16th December 2022. However, concerns have been raised regarding the need for such detailed regulation. A vital test for the funding code will be judged upon the continued smooth transition of DB schemes to their endgames without disruption, new hurdles or compliance costs.
This session will address:
- How can we best deal with the amount of regulation the industry is facing?
- Does an increased amount of compliance benefit schemes, and how much value does it add?
- What issues is the TPR finding now, and what is the TPR looking for from schemes?
- How can schemes ensure a smooth transition introducing the DB funding code to their endgames?
Please note: programme is subject to change