Conference programme
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Last updated: 17th November 2009
Note: this conference attracts up to 25 PMI CPD credits.
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Day One: Wednesday, 18th November
08:00-09:15 Registration and exhibition opens
09:15-09:20 Introduction and welcome
Jonathan Stapleton, Editor, Professional Pensions
09:20-10:30 Plenary 1: Tomorrow's thinking
THREE ROOMS FULLY BOOKED
Chair: John Lawson, Head of Pensions Policy, Standard Life
1. Tomorrow's Owners – stewardship of Tomorrow's Company
The Tomorrow's Owners programme is exploring the likely future patterns of ownership of companies, and the internal and external implications of different ownership structures, on the basis that stewardship of our companies is essential to our future well-being.
- Mark Goyder, Founder Director, Tomorrow's Company
2. Tomorrow's Investor
The issues are well known: a population in which not enough people are saving; where saving is declining; where investors are being let down by their representatives. The RSA's Tomorrow's Investor project is committed to make the vision, where pension funds take full advantage of the resources at their disposal and engage their beneficiaries to solve both business and social problems, a reality.
- Matthew Taylor, Chief Executive, The RSA
10:35-11:05 Concurrent sessions A:
Your choice of one session from below:
A1: Time to call it a day for DB accrual?
THIS SESSION IS FULLY BOOKED
Chair: Steve Delo, Independent Trustee, PAN Governance
Ceasing future accrual. De-risking. Settlement. Recent economic uncertainty has crystallised thinking about the future of many organisations' pension arrangements. However, there is no single destination for the unique journey each scheme will have to take. This session will examine the options available to organisations facing up to the new pensions reality, identifying some of the opportunities, decisions and pitfalls.
- Michael Chatterton, Head of Settlement Solutions, Watson Wyatt Worldwide
A2: Which direction is the PPF heading?
Chair: Jonathan Stapleton, Editor, Professional Pensions
The PPF is now firmly part of the pension landscape and is carrying out all the tasks given it by the Pensions Act 2004. Strengthening their financial resilience remains an important priority after a year that has seen marked volatility in the financial markets. This session will tell stakeholders about the direction the business is taking – and how it aims to balance its different interests.
- Martin Clarke, Director of Financial Risk, Pension Protection Fund
A3: First Time Outsourcing
Chair: Roy Platten, Pensions Manager, Volkswagen Group UK
Economic uncertainty is encouraging more businesses to move towards First Time Outsourcing/Co-sourcing to save costs, reduce risk and maintain a good service to scheme members. This session examines topics including why people look to outsource, costs and the pros and cons of in-house vs. outsourced admin.
- Jonathan Mindell, Head of Outsourcing, Mercer
A4: The trouble with asset liability models
Chair: Gordon Sharp, Director, Pensions Tax & People Services, KPMG
Some argue that ALMs failed to predict the financial crisis. This session takes a close look at how they can be improved and if trustees should use them to get maximum benefit. It will also consider if they can help trustees set future dynamic strategies, which can change according to prevailing market conditions.
- Gavin Orpin, Head of Trustee Investment, Lane Clark & Peacock
11:05-11:30 Refreshments and exhibition networking break
11:30-12:30 Concurrent sessions B:
Your choice of one session from below:
B1: Achieving acceptance of difficult changes
Chair: Alan Pickering, Chairman, BESTrustees and The Life Academy
Companies spend millions of pounds annually on employee benefits. However, explaining to employees the value of their company benefits, and any changes to them, can be a difficult communication challenge.
- Kevin Shilling, Managing Director, SHILLING Communication
The largest final salary scheme in the UK achieved acceptance of significant changes to its pension arrangements this year. This case study will discuss the changes and the comprehensive communication campaign supporting them.
- Kevin O’Boyle, Head of Pensions, BT
B2: Mind the Gap - redefining paternalism
Chair: David Bird, Principal, Towers Perrin
Doomsday: Why employers must explode the cherished myths among the workforce about their prospects at retirement.
- George Magnus, Senior Economic Adviser (UBS) and author of The Age of Aging
As employees become less like members and more like consumers, what tactics should employers be implementing to help retain existing talent whilst attracting the new wave? This session looks at how to keep a diverse workforce engaged with their pension and wider employee benefits.
- Jamie Jenkins, Head of Employee Wealth Solutions, Standard Life
- Greg Thorley, National Employee Communications Manager, Standard Life
B3: Best practice - better performance
THIS SESSION IS FULLY BOOKED
Chair: Susan Andrews, Vice President, The PMI
Why sponsors should view pensions governance as important not only to their schemes but also to their business.
- Kevin Wesbroom, UK Lead, Global Risk Services, Hewitt Associates
The importance of internal controls for measuring consistency, data quality and accuracy and dealing with conflicts of interest.
- Justin Wray, The Pensions Regulator
Even after the collapse of Lehman Brothers, many pension schemes are still failing to measure counterparty risk. How do trustees get this squarely on their agenda?
- Matt Tickle, Partner, Barnett Waddingham
B4: Making DC work for the novice investor
Chair: James Churcher, Pensions Manager, The Telegraph Pension Scheme
In the US employers are realising that they don't want the average member to be the investment director of their own pension scheme, and have instead looked at providing more appropriate default and near default fund options. In this session looks at how to make DC work for the average employee, who is not an investment professional.
- Lillian Goldthwaite, Executive Manager, Funds Strategy & Selection Group, Friends Provident
Case study from:
- Philip Mendelsohn, Managing Consultant and Trustee, Atkins Pensions Plan
12:35-13:15 Plenary 2: Redressing the balance - boosting the economy and protecting pensions
Chair: Alan Pickering, Chairman, BESTrustees and The Life Academy
- Keynote talk by Neil Carberry, Head of Pensions, CBI
Followed by a discussion between Steve Delo, Pan Governance, James Churcher, The Telegraph Media Group, Robin Ellison, Pinsent Masons, Maggie Craig, ABI, and Duncan Howorth, SPC.
13:15-14:45 Lunch and exhibition networking break
14:45-15:45 Concurrent sessions C:
Your choice of one session from below:
C1: The demographic storm
THIS SESSION IS FULLY BOOKED
Chair: Chris Curry, Research Director, The Pensions Policy Institute
Population ageing is a global challenge. Over the next fifty years, the age composition of nearly every country is expected to move to one in which the old outnumber the young. This session looks at the worldwide view on ageing and examines the lessons UK pension schemes can learn.
- Kenneth Howse, Senior Research Fellow, Oxford Institute of Ageing
Understanding personal longevity is complex and hence longevity risk is poorly understood and not well planned for. This session will examine how pension schemes can manage pension scheme longevity uncertainty on a budget.
- Douglas Anderson, Founder, Club Vita
C2: Has your scheme got the 'X' factor?
Chair: Tony Baily, Principal, Hewitt Associates
Through a series of practical case studies, this session will focus on the good, the bad and the ugly of scheme governance. It will highlight trustees' legal obligations with regards to governance, set-out the steps to take, to help avoid the potential pitfalls and provide tried and tested examples of how governance theory actually applies in practice. Delegates can cast their verdicts throughout the session.
- Allan Course, Independent Trustee, Capital Cranfield
- Robin Simmons, Partner, Sacker & Partners
- David Saunders, Partner, Sacker & Partners
C3: Making more than just a statement
Chair: David Mote, Communications Director, Ferrier Pearce
10 ways to make a statement with your statement
As arguably the most key piece of communication that a member receives each year, why do schemes (particularly DC) continue to stick with the standard SMPI? DC statements can act as a vehicle for a whole lot more as part of an overall communications strategy, whilst still complying with the regulations of course.
- Louise Harris, Head of Communications, Capita Hartshead
Includes a case study from Fiona McDonagh, Technical Manager, Marks and Spencer.
C4: Fighting for what's rightfully yours
Chair: Ian Woodall, Interim Chief Investment Officer, Westminster City Council
With class actions increasingly in the news and now spreading to Europe, it seems like common sense for funds to understand the impact on their investments, their legal options and ensure they recover any money due to them, but many investors still don't have a process in place that will stand up to scrutiny. This session will review the new class action landscape and examine what pension funds need to have in place from a European (rather than US) perspective.
European case study
- Caroline Goodman, Managing Director, Institutional Protection Services
Panel discussion: Why don't all European funds and institutions collect what they are entitled to?
Panelists include:
- Sarah Hutchinson, Head of Finance, British Airways
- Andrew Masraf, Partner, Pinsent Masons
15:50-16:20 Concurrent sessions D:
Your choice of one session from below:
D1: Getting personal about data
THIS SESSION IS FULLY BOOKED
Chair: Phillip Bretnall, Director, ITM
Getting data protection right is not an option for trustees, it's a necessity, as the new powers for the Information Commissioner's Office will mean that trustees could be fined in future for breaches. This session will examine the rules and regulations employers and trustees should bear in mind when identifying and disclosing personal data.
- Jason Coates, Partner, Wragge & Co, and SPC Council Member and Kirsten Whitfield, Associate, Wragge & Co
D2: Making the most of the UK property market recovery
Chair: Steve Wallace, Director, Chartered Alternative Investment Analyst Association
- Henri Vuong, Property Research Analyst, PRUPIM, will present key findings from the PRUPIM 2009 Property Survey.
With the UK property market most likely to lead any global recovery in real estate, this session discusses how UK pension funds can take advantage of this upturn.
- John Danes, Head of UK Research and Investment Strategy, Aberdeen Property Investors
D3: Corporate health checks
Chair: Tony Baily, Principal, Hewitt Associates
Against today's challenging trading conditions, the risks posed by weakening covenants are greater than ever. This session will provide trustees with practical advice on how to get a handle on the risks and go about negotiating realistic future funding rates.
- Paul Thornton, Chairman, Gazelle Corporate Finance
D4: Flexible benefits - making the right choices
Chair: Sylvia Doyle, Director, Reward First
When an employee agrees to give up part of their salary in return for a non-cash benefit, they expect great things of what the trade will yield. This session will look at how you can choose the right Flexible Benefit package and present it to your employees in the most efficient way possible to keep corresponding costs down.
- Charlie Carrick, Director, JLT Online Benefits, JLT Benefit Solutions
16:20-16:45 Refreshments and exhibition networking break
16:45-17:30 Plenary 3: Up close on pensions
THREE ROOMS FULLY BOOKED
Chair: Robin Ellison, Pinsent Masons
An audience with the Pensions Minister
- Angela Eagle MP, Minister of State for Pensions and the Ageing Society
17:30-18:15 Exhibition networking break prior to post-Show drinks reception
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Day Two: Thursday, 19th November
08:00-09:15 Registration and exhibition opens
08:00-08:55 Concurrent morning sessions:
Your choice of one session from below:
The roadmap of Currency Management: active hedging and currency absolute return strategies
This is an exclusive and limited session - see 'Notes' below for more information
Investment is the art of converting information into wealth. This immensely difficult problem cannot be solved by simplistic methods. Two general approaches have emerged: evolution and intelligent design.
Successful passive investors hold exposures that are subject to natural selection. Active managers use information to design strategies that vary investment exposures. The term "management" implies that decisions are being taken and actions implemented. When it comes to hedging currency exposures, can someone with a passive hedge really claim to be "managing" currency risk?
We have seen a vogue for hedge fund replication. Surely the fee of an active currency manager comes from the design elements of the investment strategy that cannot be replicated passively.
- Gavin Francis, Managing Director of Client Portfolio Management, Pareto
Pension fund thoughts on DC asset allocation
Professional Pensions have been working with AXA asking the delegates of the Professional Pensions Show your views on DC asset allocation. The results for this survey have been collated and the findings will be presented in this morning session.
- Mark Rowlands, Head of Consultant Relations, AXA Corporate
- Robert Booth, Investment Strategy Manager, AXA Corporate
09:15-09:20 Introduction and welcome
- Alex Beveridge, Editor in Chief, Professional Pensions
09:20-10:00 Plenary 4: Monetary policy and liquidity provision during the financial crisis
THREE ROOMS FULLY BOOKED
Chair: Steve Delo, Immediate Past President, PMI and Independent Trustee, PAN Governance
Paul Fisher outlines how the Bank of England has used its balance sheet during the financial crisis to support monetary policy and the provision of liquidity to the financial system. That includes measures such as the Asset Purchase Facility, which has been used by the Monetary Policy Committee to implement the policy of injecting money directly into the economy (quantitative easing).
- Paul Fisher, Executive Director, Markets and Member of the Monetary Policy Committee, The Bank of England
10:05-10:35 Concurrent sessions E:
Your choice of one session from below:
E1: How to achieve cost effective trusteeship
Chair: Colm Deasy, Group Pensions Manager, Electrocomponents plc
Today, maybe more than ever before, trustees need to manage the advisers they employ more effectively to keep costs under control and to improve the advice they receive. Simply reducing the cost is easy, but how can the quality of advice be improved in the process? What can trustees do and what do they need to know to enable them to do this even more effectively in this challenging environment?
- Fraser Smart, Director, Northern Region, Buck Consultants
- Sarah Smart, Chair of Trustees, Macmillan Cancer Support Pension Scheme
E2: DC - it's a risky business
THIS SESSION IS FULLY BOOKED
Chair: Graham Mannion, Managing Director, PensionDCisions
PADA's default fund will be aimed mainly at lower earners. Will their choice of default fund influence the thinking of other occupational DC schemes or are these two distinct markets? Will the use of risk graded default funds become more popular in the future and, if so, how can we help members understand the implications of picking a higher or lower risk fund?
- Lee Hollingworth, Head of DC, Hymans Robertson
E3: Should ETVs carry a health warning?
Chair: Emma Watkins, Head of Relationship Management, MetLife Assurance
Enhanced transfer values (ETVs) are only one of the tools available to long suffering sponsors looking to de-risk and reduce costs. Whether used in isolation to help keep 'the show on the road' or as part of a wider strategy, they remain an emotive subject! Apart from considering the role of trustees, this session will consider when ETVs might be appropriate, how they might be structured, their pitfalls and the ingredients for success.
- Hamish Wilson, Senior Partner, HamishWilson
- Fraser Sparks, Partner, Hammonds
E4: Static asset allocation destroys value
Chair: Natalie WinterFrost, Chairman, SPC Investment Committee
In today's investing environment, inertia poses one of the greatest threats to UK pension funding. While returns may have become more polarised, schemes in all situations need to act to protect themselves. This session will examine how, by using medium term asset allocation, trustees can up their game and steer the ship without handing over control in changing conditions.
- Colin Robertson, Global Head of Asset Allocation, Hewitt Associates
10:35-11:05 Refreshments and exhibition networking break
11:05-11:35 Concurrent sessions F:
Your choice of one session from below:
F1: Do active managers need active managing?
Chair: Yusuf Samad, Investment Principal, Aon Consulting
Avoiding the investment minefields has been as important as finding winners in recent years. Forming investment views and changing managers to accommodate these views would have helped pension funds avoid some underperformance. This session will focus on how pension funds can avoid the pitfalls in manager selection and take advantage of the opportunities that present themselves as the market cycle unfolds.
- Ben Fox, Partner, Goodhart Partners
F2: Is the future bright for buyouts?
Chair: Clive Wellsteed, Partner, Lane, Clark & Peacock
The dramatic deterioration in the world economy from the last quarter of 2008 has made traditional buyouts less affordable, as pension scheme asset values have fallen and company finances have deteriorated. Despite this, the need for companies and trustees to reduce risk is still increasing. This session will assess where the buyout market is currently and where it might be heading.
- Andy Reed, Director, Defined Benefit Solutions, Prudential
F3: The truth about straight through processing
Chair: Ian Richards, Chair of Trustees, Next Pension Scheme & Chairman of IMSDG
Quality data in isolation is not sufficient and of equal importance is how this data is exchanged by the various parties involved in the administration process. This session will expose five key myths surrounding the use of straight through processing (STP) for pension scheme administration and look at the potential savings and reductions in operational risk.
- Steve Wallace, Head of STP Solutions, Idea Group
F4: Improving the member experience
Chair: Clive Grimley, Head of DC Practice, Barnett Waddingham
Although consumer spending has decreased during the current recession, expectations of improved customer experiences and offerings are still rising. This session will look at the practical steps TPAs can take to improve the level of service offered to scheme members by their administration, communication and helpline teams.
- Jonathan Clark, Communication Manager, rpmi
11:40-13:10 Plenary 5: Auto enrolment, employer compliance and personal accounts
THREE ROOMS FULLY BOOKED
Chair: David Yeandle, Head of Employment Policy, EEF
- David Haigh, Head of Workplace Pensions Reform, Department for Work and Pensions
- Charles Counsell, Programme Manager for the Employer Compliance Regime, The Pensions Regulator
- Helen Dean, Policy and Product Development Director, Personal Accounts Delivery Authority
13:10-14:40 Lunch and exhibition networking break
14:40-15:55 Concurrent sessions G:
Your choice of one session from below:
G1: DC - the new reality
THIS SESSION IS FULLY BOOKED
Chair: Nigel Aston, Business Development Director, PensionDCisions
Over the last year, DC has increasingly come under the spotlight, with individuals seeing the level of their pension savings declining by up to 40% and a growing realisation that their income in retirement may be very different from their expectations just a couple of years ago. DC has been stress tested and, in several areas, been found wanting.
Evidence and Findings from DC
Presented by Graham Mannion, Managing Director, PensionDCisions
In a world where DC is increasingly the only option available for future pension savings, this is a serious problem for plan sponsors, fiduciaries and members alike. In this session, Gary Smith will look at how DC can be made more 'fit for purpose', especially discussing some latest thinking and new ideas in the areas of DC investment, member engagement and plan governance.
This session will include several case studies and share examples of good communication material with delegates.
- Gary Smith, Senior Consultant, Watson Wyatt Worldwide
- Richard Veal, Head of UK Communications, Watson Wyatt Worldwide
G2: The power of diversification
Chair: Chris Watling, Economist and CEO, Longview Economics
Recent market conditions have resulted in many UK pension funds discovering they actually own portfolios that in reality are highly correlated. We will re-examine diversification and consider if pension funds should continue to diversify in a market rally.
'The Longview' – Market Overview presented by Chris Watling
Following unprecedented market conditions, are European pension schemes increasing their allocation to non-traditional asset classes to manage their risks more effectively? This session will reveal the latest trends in asset allocation.
- Crispin Lace, Senior Consultant, Mercer
Before examining several asset classes in more detail, this session will look at some of the key issues when considering how alternatives can best be used to create a diversified portfolio.
- John Harrison, Chief Investment Officer, UBS
Fund Focus:
- Emerging Markets - Bill Smith, Chief Executive, Lazard Asset Management
- Commodities - Colin O'Shea, Head of Commodities, Hermes Fund Managers
- Hedge Funds - Nick Keem, Director, Alternative Investments, F&C Alternative Investments
G3: Is member education working?
Chair: Carol Perry, Director, ITS
Schemes want members engaged in the financial education process but often fail to approach the challenge in a human way. Starting with a situation familiar to us all, parallels will be drawn that, if applied, lead to real engagement. Various types of financial education will be demonstrated in the process.
- Tony Hodges, Director, Anthony Hodges Consulting
Now that DC schemes have been around for some 10 years, just how effective have communications programmes actually been in educating employees?
- Paul Sturgess, Product Development Director, Capita Hartshead
This case study will look at a company's experience of communicating to a diverse workforce during a period of major transition. Examining different strategies and identifying what worked and what didn't.
- Martyn Bogira, DC Solutions Director, Prudential
G4: Are administration standards rising?
Chair: Colin Hamilton, Commercial Director, Aon Consulting
Carole Ward talks about how better engagement between the trustees, employer, Regulator and administrator has resulted in raising the standards of pension administration.
Carole Ward, Partner, Barnett Waddingham
Scheme data issues are now 'hurting' and a number of scenarios have crystallised the impact. The Regulator's Guidance is timely and welcome and this session looks at the changes expected which should see a genuine improvement in data quality.
John Broker, Director, ITM
Service level agreements are often used by schemes to increase the standard of TPAs. This session will ask if SLAs are the best method of ensuring a high service level or are there more appropriate qualitative measures available?
Sue Applegarth, Managing Director, MNPA
Panel discussion
15:55-16:25 Farewell refreshments and exhibition networking
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Contacts:
New speaking opportunities:
Christine Daley
Email:
chris.daley@caterpillarpr.co.uk
Tel: +44 (0)7757 256924
Liaison for existing speakers:
Mary Bowditch
Email:
mary.bowditch@incisivemedia.com
Tel: +44 (0)20 7484 9729
Sponsorship contact:
Colin Rushe
Email:
colin.rushe@incisivemedia.com
Tel: +44 (0)20 7004 7429
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