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PMI
Trustee Workbench

Trustee Workbench

16 June 2021 | 17 June 2021
Free

Trustee Workbench

The Trustee Workbench conference is an online event series designed for all pension trustees, including professional, member- and employer-nominated trustees. This event builds on our expertise in helping trustees succeed in their roles and draws on the current issues and challenges.

Content at this conference covers DB and DC schemes, in the areas of ESG, legal and regulatory as well as administration. Our expert speakers will provide invaluable insight into many points that are likely to find their way onto the agendas of trustee boards in 2021 with topical discussions related to the new DB Funding Code and the introduction of The Pensions Regulator’s Combined Code of Practice. 

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    Fees

    free for members and non-members
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    Online

    BrightTALK or Zoom
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    9 hours

    of CPD
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    10+

    speakers

Event Details

THE BASICS

Topics of discussion:
  • Integrating climate change reporting into your pension scheme
  • What should trustees look for when selecting a bulk annuity provider?
  • The Pension Schemes Act 2021 – a tougher regime lies ahead
  • Overcoming the risks at retirement
  • End-state targets for Defined Benefit pension schemes
  • Preparing for The Pensions Regulator’s combined code
  • Rethinking member engagement in the age of digital
Who should attend:
  • Pension Scheme Managers
  • Trustees
  • Administrators
  • Policy advisers
  • Consultants
  • Lawyers
  • Corporate IFAs
  • Investment managers
  • Actuaries
  • Comunication professionals
The venue
Event Venue Brighttalk 2

Agenda 16 June

10:00 – 10:45
Integrating climate change reporting into your pension scheme
TBC
TBC
  • How to ensure your scheme is ready to implement TCFD requirements?
  • Case study from a large scheme on their challenges and successes in implementing climate change reporting
  • What does the future of the regulatory landscape look like?

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11:00 – 12:00
What should trustees look for when selecting a bulk annuity provider?
Tim Middleton
Tim Middleton
PMI
Director of Policy and External Affairs
Andrea Collins
Andrea Collins
Just.
Senior Corporate Development Manager

Research with professional trustees has shown that most take financial strength for granted. This session will reveal what trustees and PMI members think really matters and why.

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12:15 – 13:15
Trustee roundtable | The DB Funding Code: Sharpening the focus on endgame certainty
Lesley Alexander
Lesley Alexander
PMI
President
Callum Duffy
Callum Duffy
Insight Investment
Solution Designer, Client Solutions Group
Graham Jung
Graham Jung
Ross Trustees
Trustee Director
Nadeem Ladha
Nadeem Ladha
2020 Trustees
Trustee Director

Trustees of DB pension schemes face several evolving challenges, such as scheme maturity, increasing cashflow negativity and a regulatory focus on de-risking – via the revised DB Funding Code. This has sharpened the focus on the trustee's journey towards their chosen endgame.

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14:00 – 14:45
The Pension Schemes Act 2021 – a tougher regime lies ahead
Tim Middleton
Tim Middleton
PMI
Director of Policy and External Affairs
Mark Jenkins
Mark Jenkins
CMS
Partner, Pensions

Pension schemes have been front page news for the past few years, with criticism of sponsoring employers or wealthy individuals “walking away” from their pension schemes – think of Sir Philip Green, Dominic Chappell and the BHS saga, or the position of Carillion’s schemes following that company’s insolvency.

This session will examine how the Pensions Scheme Act 2021 is trying to tackle some of these injustices and how trustees should approach this new legislation.

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15:00 – 15:45
Overcoming the risks at retirement
Lesley Alexander
Lesley Alexander
PMI
President
Mark Hewitson
Mark Hewitson
WEALTH at work
Head of Retirement Income Services
Paul Tinsley
Paul Tinsley
Dalriada Trustees
Professional Trustee

It is now over six years since the introduction of Freedom and Choice which transformed the pension landscape. Pension scheme members now have to grapple with a multitude of risks, which has become increasingly complex and uncertain due to the pandemic. WEALTH at work will discuss its latest survey results which looked to uncover the concerns Trustees have for members as they approach retirement and what support measures have been put in place to combat this.

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Agenda 17 June

10:00 – 10:45
End-state targets for Defined Benefit pension schemes
Tim Middleton
Tim Middleton
PMI
Director of Policy and External Affairs
Kevin Wesbroom
Kevin Wesbroom
Capital Cranfield
Professional Trustee
Costas Yiasoumi
Costas Yiasoumi
Willis Towers Watson
Senior Director

Running off the £2 trillion of UK corporate sector defined benefit liabilities in an efficient and effective fashion is the biggest challenge facing the UK pensions industry. As more and more defined benefit pension schemes start maturing the trustees running those schemes need to consider what their target end-state will be and the associated journey plan. Yet too few trustee boards have well articulated and robust plans.

This session considers how trustee boards can better prepare themselves for these challenges by creating a suitable endgame strategy for their schemes.

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11:00 – 12:00
Preparing for The Pensions Regulator’s combined code
Chris Parrott
Chris Parrott
PMI
Chair of the Trustee Group Forum
Sara Cook
Sara Cook
Barnett Waddingham
Principal, Senior Pension Management Consultant
Amanda Latham
Amanda Latham
Barnett Waddingham
Associate, Policy and Strategy Lead

Trustees await the final version of The Pensions Regulator’s new combined code. When the code comes into force a clock will start ticking. Trustees of all but the smallest schemes will have only one year to prepare their first own risk assessment, which the Regulator notes is “a substantial process”. And trustees of all schemes are legally required to have an effective system of governance including internal controls.

We will take a look at the practical steps trustees should be taking now to get prepared for The Pensions Regulator’s combined code.

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12:15 – 13:15
Trustee Roundtable: Latest developments in the trustee market
Lesley Alexander
Lesley Alexander
PMI
President
Gareth Tancred
Gareth Tancred
PMI
Chief Executive
David Weeks
David Weeks
AMNT
Co-Chair
  • Chief Executive trustee address
  • Examining the future outlook for professional trustees
  • What the PMI and AMNT are doing in relation to trustee training support and accreditation?

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14:00 – 14:45
Rethinking member engagement in the age of digital
Christine Kerr
Christine Kerr
PMI
Advisory Council Member
Karen Bolan
Karen Bolan
Gallagher Employee Experience & Communication
Director, Retirement Communication
Sam Charles
Sam Charles
Gallagher Employee Experience & Communication
Digital Director

Digital has revolutionised the way people access and consume information – and it’s time for pension communications to catch up. Embracing the power of digital opens up a world of opportunities when it comes to member engagement through increased reach, targeted member experience journeys, more impactful content, and improved measurement.

In this interactive webinar, Karen Bolan and Sam Charles from Gallagher Employee Experience & Communication will explore why member engagement needs to be so much more than a tick-box exercise, what good pensions communications look like in the digital age and practical ways to improve.

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Speakers

Hear from the experts

Sara Cook
Sara Cook
Barnett Waddingham
- Principal (Senior Pension Management Consultant)

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.

Amanda Latham
Amanda Latham
Barnett Waddingham
- Associate, Policy and Strategy Lead

Amanda is responsible for the development and delivery of Barnett Waddingham's overall policy, strategy and specific business area policies in relation to strategic industry issues with a focus on sustainability, governance and consolidation (particularly in the pensions market). She previously worked for The Pensions Regulator in a number of policy and stakeholder roles and has led cross-disciplinary teams delivering significant changes to regulation and legislation. Amanda has also held specialised roles at the British Medical Association and the Environment Agency.

Amanda chairs the Stewardship workstream of the Investment Consultants Sustainability Working Group (ICSWG), a group of consulting firms aiming to support sustainability across the investment industry, and is a member of the Institute and Faculty of Actuaries Sustainability Board providing diversity of thought as a non-actuary.

She is also a charity trustee and is Vice Chair of trustees for Age UK West Sussex, Brighton & Hove where she contributes to the governance and oversight of a local charity providing safe and sustainable services to older people. Amanda holds an MSc in Public Policy and Management focusing on corporate governance and business ethics, pension fund governance and investment as well as undergraduate qualifications in Law, Sociology and Politics.

 

Mark Jenkins
Mark Jenkins
CMS
- Partner, Pensions

Mark Jenkins is a Partner in the Pensions Team at CMS.  Mark advises employers and trustees on all aspects of pensions law, encompassing both contentious and non-contentious issues.  On the non-contentious side, Mark has a broad practice, including advising on benefit design and restructuring including asset-backed funding arrangements, as well as investment issues, with a particular focus on insolvency and restructuring matters.  Mark also advises on de-risking activity, including buy-ins and buy-outs and longevity swaps, acting for insurers and trustees on de-risking transactions. Mark is an experienced litigator, including acting for a leading actuarial and benefits consultant in pensions professional negligence matters.  He has acted in a number of Part 8 pension cases, and also has extensive experience of advising on IDRP and Pensions Ombudsman complaints

Mark Hewitson
Mark Hewitson
WEALTH at work
- Head of Retirement Income Services

Mark has many years of experience in financial services, including delivering service innovation and pension scheme member services for major FTSE companies.

He now leads the development of the at-retirement services for workplace pension schemes and pension scheme members.

Mark also actively manages partnerships with major institutes for retirement savings professionals including the Pensions Management Institute and Pensions Policy Institute.

Kevin Wesbroom
Kevin Wesbroom
Capital Cranfield
- Professional Trustee
Costas Yiasoumi
Costas Yiasoumi
Willis Towers Watson
- Senior Director

Costas has 30 years hands on experience across a wide range of DB areas and issues. He spends much of his time assisting clients with their strategic challenges and in transactions to transfer pension risks and exposures to insurers and counterparties.

Andrea Collins
Andrea Collins
Just.
- Senior Corporate Development Manager

Andrea is responsible for relationships with Independent Trustees and leads our transition team who manage projects through the data cleanse period. A qualified actuary, she joined from the Pension Protection Fund in 2019. Outside work Andrea is keen on socialising with good food and wine

Karen Bolan
Karen Bolan
Gallagher Employee Experience & Communication
- Director, Retirement Communication

Karen is a Retirement Communication Director at Gallagher’s employee communication and experience practice. Combining excellent pensions knowledge with a proven track record in developing engaging communications strategies, she helps trustees and heads of pensions empower members to make informed decisions about their financial future.

An accredited member of the International Association of Business Communicators and a regular speaker at prominent industry events, Karen has more than 35 years experience in senior strategic roles in both retirement and corporate communication.

Karen passionately believes that effective communications can help people feel different about pensions and change their behaviours so that they can enjoy their life after work in exactly the way they want.

Lesley Alexander
Lesley Alexander
PMI
- President

Lesley’s career in pensions has spanned nearly forty years and she has held a number of senior pensions management roles with organisations including HSBC, EMI, Motorola and Reed Elsevier. Lesley is a Fellow as well as President of the Pensions Management Institute. She is a former independent member of Prudential's Independent Governance Committee and Master Trust Board and former Chair of UKSIF.

Lesley's particular interest is in demonstrating how strong governance and engaging communications contribute to better outcomes for members of workplace pension schemes.

Callum Duffy
Callum Duffy
Insight Investment
- Solution Designer, Client Solutions Group

Callum joined Insight in April 2019 and is a Solution Designer in the Client Solutions Group. Callum works on the design and delivery of investment solutions tailored to address the specific risk and return objectives of Insight’s clients. Prior to joining Insight, Callum spent over six years at KPMG as an investment consultant. Here, he helped with the design and implementation of investment strategies for defined benefit pension schemes. He was also co-head of investment strategy research and a member of the LDI and ALM research teams. Callum graduated from the University of Warwick with an MMath (first) in Mathematics. He is also a Fellow of the Institute and Faculty of Actuaries in the UK (FIA).

Graham Jung
Graham Jung
Ross Trustees
- Trustee Director

He combines a wealth of practical knowledge of investment strategy, markets and managers with an Actuary’s understanding of pension scheme dynamics, journey planning and decision making. He has worked with DB and DC schemes of all sizes, as both an advisor and an asset manager, and aims to build close working relationships with sponsors, fellow trustees and providers.

In particular, Graham has deep experience in Fiduciary Management and brings a practical understanding of both the benefits and challenges inherent in such an approach to pension scheme investment. He is also very familiar with the investment aspects of risk transfer and the opportunities opening-up through consolidation.

Graham is a key part of the Ross Investment Group and is responsible for much of the thought leadership that spreads across all of the firm’s clients.

Sam Charles
Sam Charles
Gallagher Employee Experience & Communication
- Digital Director

Sam is a Digital Director at Gallagher’s employee communication and experience practice, Sam helps define, support and implement our clients’ long-term digital strategy and vision across internal communication, reward & benefits and retirement planning.

Sam leads our digital team, inspiring them to constantly learn and innovate while embracing new technology to deliver successful client outcomes. He believes that the best work is done by happy and motivated people, and is driven to create an environment that facilitates this by ensuring that everyone has a voice.

With a degree in Environmental Geoscience, Sam switched from modelling pollutant distribution to retirement outcomes when he joined AHC (now Gallagher) in 2002. His role presents many opportunities to put his problem-solving skills to good use – in both technical and business challenges.

While falling short of his childhood ambition to be an astronaut, Sam loves to get out on his bike and ensure that life is a genuine uphill struggle by seeking out the UK’s steepest and highest hills wherever he can.

Tim Middleton
Tim Middleton
PMI
- Director of Policy and External Affairs
Chris Parrott
Chris Parrott
PMI
- Chair of the Trustee Group Forum
Christine Kerr
Christine Kerr
PMI
- Advisory Council Member

Christine Kerr is a Governance Specialist and Principal at Barnett Waddingham. She is a Fellow of the PMI and a member of the PMI Advisory Council, Trustee Group, Chairs the PMI Risk & Audit Committee and holds the PMI Award in Trusteeship.

She is an advocate of the skills and value of scheme secretaries/pension managers. These are skilled, specialist roles which provide diverse and interesting careers.

Gareth Tancred
Gareth Tancred
PMI
- Chief Executive

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.   

David Weeks
David Weeks
AMNT
- Co-chair

David Weeks was elected as Co-Chair of the Association of Member Nominated Trustees (AMNT) in 2016.  He is a director of the defined benefit pension scheme for a leading PLC in infrastructure services. The Pensions Management Institute presented him with their 2019 award for “Outstanding contribution to the pensions industry”. “Engaged Investor” included him in their “Top 50 people in pensions 2017”.

David Weeks is active in the affairs of the World Pensions Council, for whom he has acted as moderator, presenter and rapporteur at international conferences. Journals that have published contributions from him recently include “Financial Times”, “Revue Analyse Financiere”, “Portfolio Institutional”, “Professional Pensions” and “Pensions Expert”. He has been a judge for major UK pension awards.

In his previous career, David Weeks has experience of both public and private sectors. Most recently he served as a consultant or executive in UK Government Departments, including Home Office, Health, Trade and Industry, and the Office of the Deputy Prime Minister. Earlier, he worked in private sector business development and marketing, and in international advertising agencies. He is a graduate in History of the University of Bristol.

Paul Tinsley
Paul Tinsley
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.

Nadeem Ladha
Nadeem Ladha
2020 Trustees
- Trustee Director

Nadeem joined 2020 Trustees in November 2018 and works across London and the Midlands.  Nadeem has almost 15 years of experience in the pensions industry. Before joining 2020 Trustees Nadeem was a senior member of PwC’s Midlands pensions practice and prior to that spent 7 years at Hymans Robertson.

Nadeem has advised trustee boards and sponsors with pension schemes ranging in size from £10m to £4bn.  Nadeem has worked on a range of strategically focused and complex projects with clients that operated across a number of sectors including financial services, energy, media, telecoms, construction and professional services. A significant number of his clients have been either listed businesses or subsidiaries of overseas parent companies.

Nadeem, a qualified actuary, focuses on dealing with complex funding and investment situations as well as corporate mergers and acquisitions (M&A), financial restructures and specialist pensions risk transactions.  He has significant experience in dealing in situations involving the Pensions Regulator, including cases of proactive engagement and obtaining Clearance during corporate transactions.

Nadeem’s strengths are focused around strategy, commercial acumen, innovation and building strong relationships quickly. Nadeem uses these strengths to get to the crux of issues across (potentially conflicted) stakeholders and then to co-develop solutions that result in sensible commercial outcomes, whilst safeguarding members’ benefits. He excels at making sure blockages are unblocked and taking decisive action to ensure things get done.

Thank you to our sponsors and Insight Partners for their continued support

CMS
CMS
- Silver sponsor
Insight Investment
Insight Investment
- Silver sponsor
Just.
Just.
- Silver sponsor
Gallagher
Gallagher
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Asset TV
Asset TV
- Media partner
AMNT
AMNT
- Media partner
Barnett Waddingham
Barnett Waddingham
- Insight Partner
WEALTH at work
WEALTH at work
- Insight Partner