Time to delve deeper into the biggest topics in pensions.

Choose your sessions from the below streams:

Stream 4 - Key Themes

Capital Backed Journey Plans: Supporting DB Schemes and Their Sponsors on Their Journey Towards Buyout

There is much talk in our industry about getting DB schemes buy-out ready, but many are still a distant away from being fully funded on a buy-out basis. Those schemes and their sponsors still face many headwinds, third party capital and capital backed journey plans are emerging as useful tools to mitigate these risks.

This session will address:

  • How third-party capital fits into the pension framework
  • Brief outline of Punter Southall’s capital backed journey plan – the Pension Safeguard Solution
  • Worked example of how the Pension Safeguard Solution supports a scheme and its sponsor

Managing Director
Punter Southall
Access All Areas: Fiduciary Management Under the Looking Glass

In recent years, the fiduciary management market experienced substantial growth in clients and assets under management. However, 2022 witnessed the first notable decline in asset values and client growth in over a decade. Fiduciary management has encountered challenges from factors such as Covid, the CMA retender process, and the LDI crisis.

This session will address:

  • What are the pros and cons of Fiduciary management and who is it best suited for?
  • How can smaller schemes access fiduciary management?
  • How can schemes consider impact investing whilst meeting fiduciary obligations?
The Capacity Crunch: Tackling the Resource Shortage

Data degradation occurs for various reasons like relocation, marital status changes, bereavement, or job switches. While some schemes opt for annual data refresh, the industry should improve record keeping to minimise inaccuracies. Inaccuracies not only risk reputation but also result in financial costs through overpayments and error corrections. Pension providers must enhance services to ensure savers receive their entitled benefits. But also, inaccuracy has to be paid for, and it's the member who ends up paying the price.

This session will address:

  • The importance of data to your scheme and your members
  • How can we get members to engage in making sure their data is accurate?
  • What have other schemes found that work well to engage members with their data?

Bells and Whistles: The Growing Value of AI

In 2023, AI gained prominence, becoming a buzzword in various industries, including pensions. Generative AI signifies a transformative technological era with considerable benefits for pensions when implemented securely. Digitalising pension schemes is crucial for aligning services with industry standards, promising increased efficiency, accessibility, and accuracy. This ongoing transformation has the potential to revolutionise scheme operations.

This session will address:

  • How has AI been used thus far within the industry?
  • How do we make best use of AI in admin and data?
  • Will AI be accessible for schemes with tighter budgets with potential integration hurdles and cost?
  • Where do we see AI's role progressing in future?

Fundamentally Important: What Does the Funding Code Mean for Schemes?

The timely release of the Pensions Regulator's funding code is crucial to align with new funding and investment strategy regulations. The proposed schedule aims to present the DB funding code in parliament during summer for implementation in the subsequent autumn. As concerns grow regarding the timing, it's imperative to examine the implications of impending regulations on pension schemes.

This session will address:

  • What does recent regulation and the timing of the funding code mean for schemes?
  • How do the regulations provide greater flexibility?
  • How will these regulations work in practice?
General Knowledge: What You Need to Know About the General Code

The eagerly anticipated general code is set to take effect in late March, following its presentation in parliament on January 10, 2024. Designed to enhance scheme governance, the code introduces new requirements, offering an opportunity for schemes to meet elevated standards. Non-compliance with TPR expectations is unacceptable, and while some governing bodies have embraced the chance to do so, others risk falling short of expectations.

This session will address: 

  • Why is the general code important and what do schemes need to think about?
  • How are schemes dealing with complying with the code?
  • Is there too much regulation, and does it need to be simplified further?
  • What does the launch of the general code mean for schemes in future?
  • What should schemes consider if they can't meet TPR's expectations?