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Pensions Aspects Live 2023

Pensions Aspects Live 2023

21 June 2023 | 08:15 - 17:30

Pensions Aspects Live

The award-winning Pensions Aspects Live is aimed at pensions professionals and those working in aligned business areas. The event complements our member magazine, Pensions Aspects, and draws on the current issues and challenges facing employee benefit consultants, administrators, trustees, lawyers and members.

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    Fees

    Members: Free
    Non-members (pension scheme representatives & asset owners): Free
    Affiliate and Corporate members: £600 (+VAT)
    Non-members: £1200 (+VAT)
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    In-person

    event
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    10+

    speakers
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    CPD

    7

Event Details

THE BASICS

Topics of discussion:

More details to follow.

Who should attend:
  • Pension Scheme Managers
  • Trustees
  • Administrators
  • Policy advisers
  • Consultants
  • Lawyers
  • Corporate IFAs
  • Investment managers
  • Actuaries
  • Communication professionals
The venue

IET London: Savoy Place, 2 Savoy Pl, London WC2R 0BL

900

Agenda

Chairs
Karina Klimaszewski
Karina Klimaszewski
Aon
Partner
Girish Menezes
Girish Menezes
Premier
Head of Administration
08:15 - 08:55
Registration and networking breakfast
08:55 - 09:05
Welcome
Gareth Tancred
Gareth Tancred
Pensions Management Institute
CEO
09:05 - 09:40
The impact of rising inflation on pensions schemes and members
Karen Heaven
Karen Heaven
Redington
Managing Director
Karina Klimaszewski
Karina Klimaszewski
Aon
Partner

In this session, Karen and Karina will discuss some of their thoughts on the current high inflation environment and how this may affect members and schemes. They will consider what Trustees should be thinking about in relation to their investment and funding decisions as well as considering how to achieve good member outcomes in a new economic environment.

09:40 - 10:25
Practical tips for Trustees on how to start looking at nature risk
Scott Foster
Scott Foster
CACEIS
Head of Digital & Governance Solutions UK
Mattea Pauc
Mattea Pauc
Re-Educating Earthlings
Founder

In this session, we’ll be providing an overview of biodiversity and nature-related risks and the potential impacts they have on pension scheme investments. We’ll then uncover how pension schemes can start navigating nature-related risks. This will include a framework to begin looking at nature-related risks, alongside the types of questions they could be asking their asset managers.

What’s the biggest driver of biodiversity loss?

What’s more important to address first? Climate risk or nature-related risks?

 Nature-related risks seem quite complex – where do I start?

Do you anticipate regulation in this area, similar to the requirements of pension schemes over £1bn in size hat have to report climate risks with the TCFD framework?

10:25 - 10:45
Networking break
10:45 - 11:20
Exploring the role of alternative assets within DC asset allocation
Jeremy De Pessemier
Jeremy De Pessemier
World Gold Council
Asset Allocation Strategist
John Chilman
John Chilman
Railpen Limited
Chief Executive
Darren Philp
Darren Philp
Shula PR and Policy
Founder
Joanna Sharples, FIA
Joanna Sharples, FIA
Aon
Partner

As the DC market continues to mature, investment strategies are increasingly in the spotlight. The traditional passive equity and bond split that has dominated DC investment strategies is no longer viewed as the most effective way to deliver good member outcomes - but how easy is it to change investment strategies and what considerations should be made in the process? This panel will discuss the influencing factors that push portfolio diversification up the investment agenda, the role that alternatives play in any investment strategy and the barriers faced by schemes when considering alternatives. We'll also discuss key findings in the recently published PPI research report: 'What role could alternative assets play in DC investment strategies in the future?'.

11:20 - 11:55
A new phase for buy-outs – time to breakdown the market?
Nikhil Patel
Nikhil Patel
Mercer
Senior Risk Transfer Consultant

This session will provide insights on how the buy-in/buy-out market is adapting to increased demand and how future transactions could be different to the historic norm. We'll be breaking down the market into 4 categories and exploring how to get the right deal for each. Whether you're managing a multi-billion pound scheme or seeking a solution for a sub-£10m scheme, navigating the market is increasingly important, whilst also assessing any alternatives to insurance that might meet your pensions objectives.

12:00 - 12:35
Breakout session: Managing Liquidity & Drawdown Risk in the Endgame
Niklas Jeschke
Niklas Jeschke
T.Rowe Price
Associate Strategist

• Endgame has arrived quicker than we have expected.
• Challenges this has created especially if you are facing a larger transaction than expected.
• Investment markets particularly fixed income markets remain volatile.
• Generating liquidity and managing cashflows.
• Once obtained how can you invest your distribution proceeds from private assets/private equity?

12:00 - 12:35
Breakout session: Future implementation of CDC in the UK
Adrian Boulding
Adrian Boulding
The Royal Society of Arts and the Institute and Faculty of Actuaries
Fellow
Dr Harinder Mann
Dr Harinder Mann
The Royal Society of Arts
Co-chair of the Royal Society of Arts’ CDC Pensions Forum

This session in association with the Royals Society of Arts, will consider the future prospects for CDC in the UK. In particular speakers will cover the scope for creating new schemes, the establishment of schemes for non-associated employers as well as variable-annuity schemes and CDC as a decumulation-only vehicle.

12:35 - 13:35
Networking lunch
12:40 - 13:25
Lunch Roundtable: Revolutionising Proof of Life and pension payroll via technology - how pension funds are embracing new solutions to bring efficiencies and improved controls to proof of life and pension payroll processes.
Chris Corfield
Chris Corfield
Crown Agents Bank
VP, Banks & Non-Bank Financial Institutions – Pensions Lead

In this session we will discuss how technology is offering enhanced control, visibility and self-sufficiency for the management and administration of members retired overseas. We will focus on changing pension fund and member expectations and the increased demand for a secure, online user experience. The session will predominantly focus on the increasing shift from traditional methods to digital solutions when verifying members’ existence and identity, and how this can be managed coherently. We will also explore how technology is making the international pension payroll process more seamless, particularly for TPAs managing numerous pension payroll files monthly.

13:35 - 14:10
Breakout session: Delivering pensions in a digital world
Daniel Heaton
Daniel Heaton
Barnett Waddingham
Associate and Senior Client Account Manager
Simon Maxwell, FPMI
Simon Maxwell, FPMI
Barnett Waddingham
Associate & Senior Pension Management Consultant

• The immediate future of digital provision (PDP)

• Where members sit within this vision, the benefits of moving towards digital provision and the roadblocks to providing pensions digitally.

• What Trustees and scheme managers can do to ensure they accept and embrace digital provision.

• The longer term future and new technology

13:35 - 14:10
Breakout session: The Regulator’s new combined code
Sara Cook, FPMI
Sara Cook, FPMI
Pensions Management Institute
President
Anthony Raymond
Anthony Raymond
The Pensions Regulator
General Counsel and Director of Governance Risk and Assurance
Clive Pugh
Clive Pugh
Burgess Salmon
Pensions Partner and Head of Pensions Regulatory Investigations
Carolyn Stanton
Carolyn Stanton
First Actuarial LLP
Consultant & Scheme Secretary

This panel will set out the latest on the Regulator’s General Code including what TPR is trying to achieve and how it plans to implement the Code. The speakers will then set out some of the key opportunities and risks they see for the pensions industry and discuss what measures could be taken to support a seamless integration once the final document is published.

14:15 - 15:00
Good governance and how to make boards and schemes more robust
Paul Tinslay
Paul Tinslay
Dalriada Trustees
Professional Trustee
Susie Daykin
Susie Daykin
Travers Smith
Partner
Tim Middleton, FPMI
Tim Middleton, FPMI
Pensions Management Institute
Director of Policy & External Affairs
Sue Austen
Sue Austen
Aon
Pension Trustee Advisor

In this session, speakers will examine what an effective system of governance looks like for schemes and what steps can be taken to make decision more robust at Board level.

They will consider how best to choose and work with professional advisers in order to strike the right balance between support and autonomy. Finally, we will also discuss what individual trustees and Board members can do to self-develop and educate themselves to fill in any knowledge gaps.

15:00- 15:20
Networking break
15:20 - 15:55
Latest developments from the Pensions Dashboards Projects
Geraldine Brassett, FPMI
Geraldine Brassett, FPMI
Willis Towers Watson
Senior Consultant
David Reid
David Reid
Pensions Dashboard Programme
Head Of Policy


David will provide an update on the Pensions Dashboards Programme and following the DWP written ministerial statement announcement on 8 June, outline what this means for industry. He will also focus on what is next and what preparations can continue to get ready for dashboards.

15:55 - 16:40
AI is coming for the pensions sector – how scared should we be?
David Rowan
David Rowan
Former Editor of Wired Magazine & Tech Investor

With new technologies like ChatGPT and AI development in general making major strides in recent times this discussion with tech guru David Rowan will be timely for the pensions industry. David will provide invaluable insights in to how these new technologies will change the way businesses operate, but also how they will lead to cultural developments in the way we work and engage with each other. In this session, we consider the significant opportunities and risks facing industries and society.

16:40 - 17:30
Drinks reception

Speakers

Hear from the experts

David Rowan
David Rowan
- Former editor of Wired Magazine & Tech Investor

David Rowan explains compellingly how emerging technologies will impact business — and how leaders should prepare now. As founding Editor-in-Chief of WIRED magazine’s UK edition, David came to know the founders of WhatsApp, LinkedIn, Google, Didi, SpoFfy, Xiaomi, Nest, Twittter, and countless other ambitious startups. David Rowan is a technology expert, investor, author, and speaker. David deconstructs tech trends in real time, unpacking how major innovations like artificial intelligence, quantum computing, autonomous vehicles, and more, are changing businesses and consumers. He focuses on how technology-led innovation can build prosperity even in economic downturns and amid market crises. He delivers fascinating and  knowledgeable presentations full of insight into the future of technology together with lively examples and engaging video clips which reveal that, in some cases, the future is already here.

Adrian Boulding
Adrian Boulding
The Royal Society of Arts and the Institute and Faculty of Actuaries
- Fellow

Adrian Boulding is a pensions professional experienced in all aspects of private sector pensions and is currently a Member of The RSA CDC Forum.
His career has included spells at Prudential, Legal & General and NOW: Pensions as well as leading on Retirement issues for trade body TISA.
His work has spanned sales, marketing, customer service, product design and trusteeship of both DB and DC schemes.
Adrian has a habit of getting involved in what’s new in pensions, and has served on Government Reviews of Stakeholder Pensions, Automatic Enrolment and Small Pots.
Adrian is a Fellow of both The RSA and the Institute and Faculty of Actuaries. He is a winner of the Pensions Management Institute’s “Outstanding Contribution” award.
Outside of work Adrian’s interests include archery, bridge and mid-century ceramics.

Anthony Raymond
Anthony Raymond
The Pensions Regulator
- General Counsel and Director of Governance Risk and Assurance

Anthony is General Counsel and Director of Governance, Risk and Assurance in the Governance, Risk and Assurance Directorate (GRA) at The Pensions Regulator (TPR). His accountabilities are twofold: firstly, as legal advisor to Board and ExCo.

Secondly as Director of GRA, the directorate specializing in governance, decision making, assurance, audit and risk.

Anthony qualified as a solicitor 21 years ago and has worked at TPR for the last fourteen years, initially as a litigation lawyer and subsequently in policy, management and leadership roles. Anthony has extensive experience of regulatory, pensions and public law and practices. Prior to his work at TPR, Anthony specialised in white-collar crime litigation and extradition.

Chris Corfield
Chris Corfield
Crown Agents Bank
- VP, Banks & Non-Bank Financial Institutions – Pensions Lead
Clive Pugh
Clive Pugh
Burgess Salmon
- Pensions Partner and Head of Pensions Regulatory Investigations

Clive joined Burges Salmon as a pensions partner in 2008, having spent over five years at the Pensions Regulator. His private practice background, coupled with his regulatory experience, creates an ideal fit for advising both employers and trustees. His work includes advising on the Silentnight and Bernard Matthews pensions schemes.

Clive advises on all aspects of pensions law, and specialises in clearance, PPF cases, scheme funding and governance, legal interpretation, strategic advice and buy-ins.

His experience at the Regulator includes advising on pension scheme funding and clearance issues. He is regarded as an expert in negotiations, including on benefit redesign, closures and corporate developments.

Clive has advised on a large number of leading scheme funding cases where there has been regulatory interest. He is therefore well-placed to advise on regulatory issues, and his unique insights add real value for our clients.

Clive is also a regular commentator in the press and in industry publications. He is a member of the Association of Pensions Lawyers, the Pensions Management Institute Advisory Committee and the Association of Pensions Lawyers' International Committee. Clive is also a member of the NAPF's legal panel.

Clive is dual qualified in England and Wales and Northern Ireland.

Daniel Heaton
Daniel Heaton
Barnett Waddingham
- Associate and Senior Client Account Manager
David Reid
David Reid
Pensions Dashboard Programme
- Head Of Policy

David leads the Policy and insight team on the Pensions Dashboard Programme and is on secondment from the Department for Work and Pensions (DWP). David is responsible for working across government to ensure the legislative, legal and regulatory requirements of the programme are delivered. As a senior manager on the Pension Wise team at DWP he had responsibility for strategy, finance, analysis, marketing and learning and development.

David has worked in pensions since 2008 when he joined the Automatic Enrolment Programme leading on the analysis of employer and exchequer costs. He moved into the policy profession in 2011 and was Head of Automatic Enrolment & NEST Policy and led the department’s sponsorship of NEST until 2015 when he moved to the Pension Wise team in HM Treasury.

David has a MMathStat (Hons) in Mathematics and Statistics from the University of Newcastle Upon Tyne.

Darren Philp
Darren Philp
Shula PR and Policy
- Founder

Darren is Founder of Shula PR and Policy.


Prior to that Darren was Director of Policy at Smart Pension, where he was active in the industry lobbying for change in pensions and financial services for the benefit of members and customers. Darren joined Smart in September 2018, having previously undertaken policy-related roles at the The People's Pension, the National Association of Pension Funds (now Pensions and Lifetime Savings Association) and HM Treasury – where he headed up the pensions team between 2007 and 2010 and was closely involved in the design and implementation of the UK’s flagship auto-enrolment programme.


Darren is active within industry bodies through contributing to research, thought leadership and policy development work, and is a regular commentator in the media. He has sat on various PLSA and ABI committees, and is a member of the PLSA Policy Board. He also sits on
the PMI external affairs committee, and has recently joined the AIMSE Europe Council. Darren is a governor and trustee of the independent Pensions Policy Institute.


Darren has a BSc(Econ) in Economics from Leicester University and an MSc in Economics and Econometrics from Southampton University. Outside of work, Darren’s interests include football (both ‘soccer’ and American Football), cricket and listening to live music. Darren is also attempting (with the emphasis on attempting….) to learn the piano.

Dr Harinder Mann
Dr Harinder Mann
The Royal Society of Arts
- Co-chair of the Royal Society of Arts’ CDC Pensions Forum

Dr Hari Mann is a Professor of Strategy and Innovation at Ashridge Business School focused on Executive Education. Through his career, he has worked within academia, investment banking and politics. In 2010, he was made Director of Tomorrow’s Investor, a project run by the Royal Society of Arts focused on how to deliver better pensions in the UK. Hari has worked with David over the past seven years on a series of publication under the Tomorrow’s Investor project. These have focused on how to deliver a better pensions architecture in the UK, how to lower investment costs in UK pensions and what can the UK learn from other countries in the world around pension fund management. He is currently co-chair of RSA CDC Forum.

Geraldine Brassett, FPMI
Geraldine Brassett, FPMI
Willis Towers Watson
- Senior Consultant
Gareth Tancred
Gareth Tancred
Pensions Management Institute
- CEO

Gareth Tancred is the Chief Executive of the Pensions Management Institute (PMI). He is responsible for the development of strategy, operational plans to deliver it and the executive management and administration of the PMI.

Prior to joining the PMI, Gareth was the CEO of the British Institute of Facilities Management where he oversaw a significant growth in its qualifications, membership and profitability, creating a stronger voice for the profession and working with Government on a number of initiatives for the benefit of the economy and society.

He has over 18 years’ experience at Board level, ranging from SMEs to large UK, European and international organisations, with an extensive portfolio as CFO.
Gareth became a Fellow of the Chartered Institute of Management Accountants in 1994, having qualified in 1992.

Jeremy De Pessemier
Jeremy De Pessemier
World Gold Council
- Asset Allocation Strategist

Jeremy works in the global research team at The World Gold Council in the role of global asset allocation strategist. He has over 15 years’ experience in global multi-asset investment strategies and solutions. Prior to joining the World Gold Council, Jeremy worked as Senior Investment Strategist at State Street Global Advisors. Before that he was part of the portfolio construction team at Bank of Ireland Asset Management.

Joanna Sharples, FIA
Joanna Sharples, FIA
Aon
- Partner

Joanna is a Partner in Aon's Investment Practice and is the Chief Investment Officer for Aon’s DC Solutions. She has over 20 years’ experience in the pension and investment industry and is a Fellow of the Institute and Faculty of Actuaries.

Joanna is responsible for the development and implementation of delegated investment solutions for DC pension schemes, working closely with Aon’s UK delegated team. Joanna also leads the development of Aon’s house views around DC investments, in particular default and lifestyle strategies, and sits on the UK DC Investment Committee. 

John Chilman
John Chilman
Railpen Limited
- Chief Executive

John is the Chief Executive of Railpen, which provides pension, fiduciary and investment management services to the Railways Pensions Scheme (RPS), a £35bn multi-employer plan with over 350,000 members, and a number of third-party administration clients.
Previously John was a trustee, and latterly Chairman, of the RPS, and held several pension Trusteeships in the UK and North America.
After completing a degree at St. Anne’s College, Oxford, in Geography, John qualified as a Chartered Accountant with Price Waterhouse, before moving into finance, change and M&A roles in South West Electricity and Shell.
He moved into pensions and reward in the late 1990s, enjoying two periods at FirstGroup, sandwiched around two years as Group Head of Reward at HBOS. He joined National Grid in May 2017, where he lead the pension change agenda, having responsibility for the pension arrangements in the UK and US, including investment, benefit design, risk management and communications.
In 2021 John was appointed to the PLSA Policy Board, becoming Chair of the DB Committee and Chair of the Policy Board later that year. He is also a Council member (Director) of the Pensions Policy Institute and is an Independent Trustee Director of the Nestlé UK Pension Fund, where he now chairs the DB Investment and DB Funding committees, having previously chaired the DC committee.

Karen Heaven
Karen Heaven
Redington
- Managing Director

Karen is a Managing Director in the Investment Consulting team at Redington. She provides investment advice to trustees and corporate sponsors of Defined Benefit pension schemes. Karen is also the Chair of Redington’s firmwide Investment Strategy Committee, the internal body that oversees the building blocks of Redington’s investment advice to clients.

Karen has over twenty years of pensions and investment experience, having begun her career in the Global Capital Markets division of Morgan Stanley, most latterly in the European Pensions Advisory group, before joining Redington in 2011.

Karen has a M.Eng in Engineering, Economics and Management from Oxford University.

Karina Klimaszewski
Karina Klimaszewski
Aon
- Partner
Mattea Pauc
Mattea Pauc
Re-Educating Earthlings
- Founder
Niklas Jeschke
Niklas Jeschke
T.Rowe Price
- Associate Strategist

Niklas Jeschke is an associate strategist on the Multi-Asset Solutions team for EMEA based in London.

Niklas' investment experience began in 2009, and he has been with T. Rowe Price since 2020, beginning on the Multi-Asset Solutions team. Prior to this, Niklas was employed by BlackRock as an investment strategist focused on client portfolio solutions.

Niklas earned a B.A. in business administration from Berufsakademie Schleswig-Holstein and a double master’s degree in management and financial markets from EDHEC Business School. Niklas also has earned the Chartered Financial Analyst® designation.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

Nikhil Patel
Nikhil Patel
Mercer
- Senior Risk Transfer Consultant

Nikhil is a Senior Principal at Mercer with over 15 years’ pensions experience helping trustees and corporate clients reduce risk, liabilities and costs from their DB pension arrangements through various de-risking strategies. Nikhil is a qualified actuary and specialist consultant within Mercer’s Risk Transfer team.

Nikhil has significant experience of preparing for and transacting buy-in and buyout deals from £2m up to over £4bn in size and advises clients on how to navigate the wide-ranging complexities of buy-in and buyout projects to deliver a successful outcome for members, trustees and sponsors.

Paul Tinslay
Paul Tinslay
Dalriada Trustees
- Professional Trustee

With 34 years in the Life and Pensions Industry, Paul has the very rare experience of having been a personal financial adviser, a market leader in the at/post-retirement market, a corporate pensions adviser and now a Professional Pension Trustee and Governance Committee member for DB and DC pension schemes.
Paul worked with the Government Actuary’s Department to develop the original drawdown legislation and has worked with a number of Insurers to develop at/post-retirement products and investment solutions.

Sara Cook, FPMI
Sara Cook, FPMI
Pensions Management Institute
- President

Sara is a Principal and Senior Pension Management Consultant focussing on secretariat and governance services and supporting trustee special projects. Her natural approach supports a collaborative working relationship with clients whilst keeping them compliant with legislative and regulatory requirements.

She coordinated Barnett Waddingham’s response to The Pensions Regulator’s combined code consultation and has been supporting the development of training materials for trustees of pension schemes and a pragmatic approach for compliance with the new requirements.

In 2020, Sara was elected as a second vice-president to the Pensions Management Institute and joined the board as a non-executive director as part of her role.
Life is about more than work - In her spare time Sara enjoys making amigurumi crochet toys (much to the delight of younger family members), brisk walks from her north Essex coastal home and an occasional glass of Pinot Grigio.

Susie Daykin
Susie Daykin
Travers Smith
- Partner
Simon Maxwell, FPMI
Simon Maxwell, FPMI
Barnett Waddingham
- Associate & Senior Pension Management Consultant

Simon is an experienced governance specialist who works pro-actively with trustee boards in all aspects of pension scheme governance to ensure they adhere with best practice and their statutory duties. This includes trustee effectiveness reviews, and the design, implementation and maintenance of trustee business plans, risk registers and other governance documents.

In addition to his governance role, Simon works closely with our administration team, acting in a senior client account manager capacity for a selection of clients.

As well as his client work, Simon is playing a key role in the development of new online tools to help make trustee boards’ lives easier

Sue Austen
Sue Austen
Aon
- Pension Trustee Advisor

Sue leads Aon's secretariat, pensions management and secondment services. Sue joined Aon in 1996 and since that time has worked with a range of clients facing many and varied challenges, providing support to trustees in identifying and setting out a robust plan to meet their strategic objectives, managing complex pensions projects and working with in-house pensions teams.

Scott Foster
Scott Foster
CACEIS
- Head of Digital & Governance Solutions UK
Tim Middleton, FPMI
Tim Middleton, FPMI
Pensions Management Institute
- Director of Policy & External Affairs
Carolyn Stanton
Carolyn Stanton
First Actuarial LLP
- Consultant & Scheme Secretary

Carolyn Stanton is a scheme secretary and administration and governance consultant at First Actuarial. She has worked in pensions for 25 years, primarily in pensions administration and management, and more latterly as a scheme secretary and consultant. As well as scheme secretarial duties, her governance role includes reviewing scheme risk registers and internal controls, reviewing and updating policies, and arranging trustee training and compliance with TPR’s Trustee Knowledge and Understanding (TKU) requirements.

Thank you to our sponsors and partners for their continued support

Equisoft
Equisoft
Gold Sponsor
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Mercer
Mercer
Silver sponsor
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World Gold Council
World Gold Council
Silver sponsor
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Go Pensions Limited
Go Pensions Limited
Bronze Sponsor
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T. Rowe Price
T. Rowe Price
Academy Partner
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Barnett Waddingham
Barnett Waddingham
Breakout Sponsor
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Crown Agents Bank
Crown Agents Bank
Exhibitor
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Dalriada
Dalriada
Exhibitor
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Pendragon
Pendragon
Exhibitor
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Alexander Lloyd
Alexander Lloyd
Drinks Sponsor
-
Aviva
Aviva
Badge Sponsor
-
Aon
Aon
Sponsor
-
Pensions Age
Pensions Age
Media Partner
-
Portfolio Institutional
Portfolio Institutional
Media Partner
-
Mallowstreet
Mallowstreet
Media Partner
-
Savvy Investor
Savvy Investor
Media Partner
-
Professional Pensions
Professional Pensions
Media Partner
-

Pensions Aspects Live 2022

Highlights