-
Breakfast and Free Working Time

As you begin your day, we kindly request that you use this time to complete your check-out process. Rest assured, your belongings will be in excellent care with Fanhams Hall while you immerse yourself in the second day of enriching sessions at our Spring Trustee Senate. 

-
Welcome and Opening Remarks
Speaker
Editor-In-Chief
Professional Pensions
-
No Time to Lose: Using A Narrative Scenario Approach
Climate scenarios are used as part of investment and strategic decision-making processes, but many are recognising the limitations and overly simplistic assumptions that current climate scenario models present. Without shorter term indicators, physical risks, tipping points and feedback loops being considered, this can lead to a false sense of security as the modelling simplifies the problem, loses nuances, and underestimates risk. Recognising this, USS has developed new climate scenarios using a narrative approach which focuses on shorter time horizons and the interaction of political will and technological advancement to indicate different climate-related outcomes.
Captured in a recent blog by Accounting for Sustainability, which runs a pension fund chair network, this fireside chat session will deep dive into what, why and how of USS’s approach.
This session will address:
  • Challenges to current scenario approaches
  • Adopting a narrative approach
  • New climate scenario considerations
Speakers
Director of Capital Markets
Accounting for Sustainability (A4S)
Head of Investment Strategy
USSIM
-
Adm-in It to Win It: Reaching Your Goals in a Stretched Admin Market

The admin market is more stretched than ever, and many concerns are being raised regarding this. With so many projects on the go: GMP equalisation, dashboards, and buyouts on the horizon for many- How can we prevent a finite number of staff from burning out? Not only is the industry stretched for admin, but there is potential for a recourse crisis for administration where all types of recourses are at bursting point. Is the industry going to fall over, or if we act now, can we save it from crisis?

This session will address:

  • The truth about the struggles in the admin market
  • How can we encourage and support new starters into the industry?
  • The hurdles the pension industry is facing/will face
  • Planning for the future, and how we can resolve these issues
  • Should schemes be paying discretionary increases if funding levels have increased?
-
Coffee and Networking Break

An ideal opportunity to connect with fellow trustees and relish refreshments provided by Fanhams Hall, for first class company and a second to none experience!

-
Costly Concerns: Addressing the Challenges Faced by DC Pension Schemes in The Cost-of-Living Crisis

The cost-of-living crisis has made it difficult for many people to make ends meet, resulting in increased financial pressure and a reduction in disposable income available for savings and investments. The cost-of-living crisis has had a significant impact on pensions, particularly DC pension schemes, in several ways: Many DC members are contributing less to their pensions, reduced contributions from employers, delayed retirement from lack of confidence in retirement savings, poor investment returns, and increased demand for flexible access to pensions.

This session will address:

  • How can schemes best help members during the cost-of-living crisis?
  • How long can we predict it will take for members to restart contributions and what can schemes to do shorten this period of time?
  • How can schemes advise members who need to balance short term needs with their retirement ambitions?
  • What impacts can DC schemes expect for the near future, and how can we best prepare for the hurdles to come?
-
All Hands-on Deck: Navigating Uncharted CDC Waters

In the UK, CDC schemes are new, and offer several potential benefits, including lower costs, greater transparency, and a shared risk between members. There are also some challenges and risks associated with CDC. However, the government has expressed support for the growth of CDC.

This session will address:

  • What does the future look like for CDC schemes?
  • How can the pensions industry best prepare for CDC?
  • What are the regulatory and legal challenges of CDC?
  • How can schemes promote education and awareness of CDC among employers and members?
  • How do other countries do CDC, and what can we learn from them?
-
Lunch

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 2 Boardrooms

-
LDI SOS: Rebuilding Portfolios in a Post-Crisis World

While 2022 might seem like a distant memory, the LDI crisis’ lasting impact has significantly reshaped how pension schemes and trustees approach their responsibilities. The crisis instilled market unease, yet pension schemes' LDI portfolios remained aligned with their obligations, mitigating interest rate and inflation risks. The utilisation of illiquid assets in DC schemes has progressively expanded, a trend anticipated to persist following the rollout of long-term asset funds. In this context, pension schemes are reconsidering their portfolios, factoring in LDI strategies, buffers, and liquidity.

This session will address:

  • What does investment strategy look like in a post LDI crisis world?
  • How should schemes invest and manage collateral following 2022’s mini budget?
  • What is the future of LDI, and should we still be using it?
  • Is there another potential crisis round the corner and how can we best prevent this?
-
Private Matters: Embracing Private Markets in A New Financial Landscape

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?
-
Money Talks: How Value for Money Has the Power to Enhance Pensions

Member expectations for customer service are steadily rising, and it's imperative that pensions meet these evolving standards. The government's response to the consultation on a VfM framework for DC schemes, released on July 11th, marked a significant development. The framework, solicited input on proposals mandating the disclosure of crucial metrics, standards, and data as part of the VfM framework, allowing member centric VfM comparisons.

With a focus on enhancing the value of DC pensions to yield improved retirement outcomes, this framework introduces an array of comparable metrics, presenting an immense opportunity to empower both pensions professionals and savers alike.

This session will address: 

  • How can we expect the VfM framework to evolve over time as the market and savers expectations change?
  • How will VfM work with the industry towards our new pensions landscape?
  • How can comparability of investment performance be benchmarked efficiently?
  • What are the dangers of letting VfM become another cumbersome compliance document?
-
Money Talks: How Value for Money Has the Power to Enhance Pensions

Member expectations for customer service are steadily rising, and it's imperative that pensions meet these evolving standards. The government's response to the consultation on a VfM framework for DC schemes, released on July 11th, marked a significant development. The framework, solicited input on proposals mandating the disclosure of crucial metrics, standards, and data as part of the VfM framework, allowing member centric VfM comparisons.

With a focus on enhancing the value of DC pensions to yield improved retirement outcomes, this framework introduces an array of comparable metrics, presenting an immense opportunity to empower both pensions professionals and savers alike.

This session will address:

  • How can we expect the VfM framework to evolve over time as the market and savers expectations change?
  • How will VfM work with the industry towards our new pensions landscape?
  • How can comparability of investment performance be benchmarked efficiently?
  • What are the dangers of letting VfM become another cumbersome compliance document?
-
LDI SOS: Rebuilding Portfolios in a Post-Crisis World

While 2022 might seem like a distant memory, the LDI crisis’ lasting impact has significantly reshaped how pension schemes and trustees approach their responsibilities. The crisis instilled market unease, yet pension schemes' LDI portfolios remained aligned with their obligations, mitigating interest rate and inflation risks. The utilisation of illiquid assets in DC schemes has progressively expanded, a trend anticipated to persist following the rollout of long-term asset funds. In this context, pension schemes are reconsidering their portfolios, factoring in LDI strategies, buffers, and liquidity.

This session will address:

  • What does investment strategy look like in a post LDI crisis world?
  • How should schemes invest and manage collateral following 2022’s mini budget?
  • What is the future of LDI, and should we still be using it? • Is there another potential crisis round the corner and how can we best prevent this?
-
Private Matters: Embracing Private Markets in A New Financial Landscape

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?
-
Private Matters: Embracing Private Markets in A New Financial Landscape
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?
-
Money Talks: How Value for Money Has the Power to Enhance Pensions

Member expectations for customer service are steadily rising, and it's imperative that pensions meet these evolving standards. The government's response to the consultation on a VfM framework for DC schemes, released on July 11th, marked a significant development. The framework, solicited input on proposals mandating the disclosure of crucial metrics, standards, and data as part of the VfM framework, allowing member centric VfM comparisons.

With a focus on enhancing the value of DC pensions to yield improved retirement outcomes, this framework introduces an array of comparable metrics, presenting an immense opportunity to empower both pensions professionals and savers alike.

This session will address: 

  • How can we expect the VfM framework to evolve over time as the market and savers expectations change?
  • How will VfM work with the industry towards our new pensions landscape?
  • How can comparability of investment performance be benchmarked efficiently?
  • What are the dangers of letting VfM become another cumbersome compliance document?
-
LDI SOS: Rebuilding Portfolios in a Post-Crisis World

While 2022 might seem like a distant memory, the LDI crisis’ lasting impact has significantly reshaped how pension schemes and trustees approach their responsibilities. The crisis instilled market unease, yet pension schemes' LDI portfolios remained aligned with their obligations, mitigating interest rate and inflation risks. The utilisation of illiquid assets in DC schemes has progressively expanded, a trend anticipated to persist following the rollout of long-term asset funds. In this context, pension schemes are reconsidering their portfolios, factoring in LDI strategies, buffers, and liquidity.

This session will address:

  • What does investment strategy look like in a post LDI crisis world?
  • How should schemes invest and manage collateral following 2022’s mini budget?
  • What is the future of LDI, and should we still be using it?
  • Is there another potential crisis round the corner and how can we best prevent this?
-
The Final Curtain: An Update from The Pensions Regulator

TPR has finally released its eagerly anticipated general code of practice, providing governing bodies with the chance to ensure their schemes align with the governance standards expected by TPR and deserved by savers. With many predicting that upcoming changes to government legislation, regulations, and policies will pose significant challenges for the pensions industry in 2024; What better way to address these concerns than by receiving updates directly from TPR and having the opportunity to pose any pressing questions.

This session will address: 

  • An updated from TPR
  • What can the industry expect from 2024 and beyond?
  • Your biggest questions and worries with existing and upcoming regulation
Speaker
Interim Director of Regulatory Policy, Analysis and Advice
The Pensions Regulator
-
Closing Remarks
Speaker
Editor-In-Chief
Professional Pensions

Please note: programme is subject to change