Day 2 Programme
Please note: programme is subject to change
Indulge in a delightful breakfast experience at Tylney Hall.
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 Tylney Hall while you immerse yourself in the second day of enriching sessions at our Trustee Senate.
Jonathan Stapleton, Editor-in-Chief, Professional Pensions
Higher interest rates and shifting market dynamics are creating new opportunities for pension schemes. This session will explore how DB and DC investors are adapting portfolio strategies, balancing income generation, diversification and risk management, and where different areas of fixed income, including securitised credit, may play a role.
For many DB schemes, surplus has become one of the most important strategic issues on the trustee agenda. After years of deficit recovery plans and journey planning towards insurance, many trustee boards are now facing a very different question: can and should we do something with our surplus?
There are many questions to answer on the critical path to creating workable surplus management plans. Key amongst these is what is a fair and reasonable allocation of surplus between the employer and members?
This session will examine the relevant factors and considerations for approaching this “fair and reasonable” question. It will explore analysis that can help trustees decide how different factors support arguments for the employer or members. We’ll illustrate, with worked examples, how scheme circumstances can lead to quite different outcomes.
With a clear rationale for what’s a fair and reasonable surplus allocation, trustees and employers will be better placed to navigate the trade-offs between competing objectives as they develop all the fine detail - balancing risks, reward and operational aspects – that are needed in a sustainable DB surplus sharing arrangement.
An ideal opportunity to connect with fellow trustees and relish refreshments provided by Tylney Hall, for first class company and a second to none experience!
Day 2 Boardrooms
DB endgame decisions are increasingly shaped by market conditions rather than funding levels alone. Volatile bond markets, insurer capacity constraints and high asset valuations have introduced new timing and risks for trustees considering buy-in, buy-out or run-on strategies.
This session moves beyond possible routes and execution mechanics to examine how trustees can factor market context into strategic decision-making within the endgame, and how they are assessing whether to lock in outcomes.
DB endgame decisions are increasingly shaped by market conditions rather than funding levels alone. Volatile bond markets, insurer capacity constraints and high asset valuations have introduced new timing and risks for trustees considering buy-in, buy-out or run-on strategies.
This session moves beyond possible routes and execution mechanics to examine how trustees can factor market context into strategic decision-making within the endgame, and how they are assessing whether to lock in outcomes.
Adam Bouchama covers how different types of DB and DC pension schemes have been allocating to ILS across high and low yield strategies while considering liquidity and cashflow matching aspects. Leadenhall will also cover in more detail how the Insurance Linked market functions in practice and answer any queries trustees may have.
Boardroom 3
DB endgame decisions are increasingly shaped by market conditions rather than funding levels alone. Volatile bond markets, insurer capacity constraints and high asset valuations have introduced new timing and risks for trustees considering buy-in, buy-out or run-on strategies.
This session moves beyond possible routes and execution mechanics to examine how trustees can factor market context into strategic decision-making within the endgame, and how they are assessing whether to lock in outcomes.