Taking stock: a pensions strategy for 2016 and beyond.

Transcription

1 LCP ANNUAL PENSIONS CONFERENCE THURSDAY 19 SEPTEMBER 2013 THE INTERCONTINENTAL HOTEL, LONDON, UK Taking stock: a pensions strategy for 2016 and beyond.

2 LCP Annual Pensions Conference 2013 Find out more at Taking stock: a pensions strategy for 2016 and beyond. Overview The last 12 months have seen a great deal of activity on the pensions front. Many employers have already passed their staging dates from which they have been required to enrol employees automatically in a suitable pension scheme and others are gearing up to do so. By April 2016, contracting-out of the State pension will no longer be possible as the new flat-rate pension comes into effect. As a result, every employer with a contracted-out pension scheme will need to review their arrangements or face higher costs from then. The easy solution for many employers will be to offer only a low-cost defined contribution scheme but the Pensions Minister continues to press for employers to embrace a third way his defined ambition. In the meantime, trustees and employers continue to face challenges as gilt yields struggle to rise and economic confidence remains fragile. In this, our 16th annual conference, we look at strategies for coping with current uncertain economic conditions and explore some of the options and pitfalls - for workplace pension provision post-2016.

3 LCP Annual Pensions Conference 2013 Find out more at Registration and coffee 08:30-09:00 Session 1 09:00-11:00 Chairman s welcome Opening address Actuaries, low interest rates and bonds. Strategies for a lower interest rate environment Why have interest rates and gilt yields fallen and why does this matter? What investment strategies can pension funds use whilst yields remain low? Strategies for recovery What scenarios could result in a rise in yields? How can pension funds exploit these opportunities? Questions Bob Scott Anthony Hilton Ian Mills Philip Boyle Bob Scott Coffee break 11:00-11:20 Session 2 11:20-13:00 Taking stock after auto-enrolment and all that With millions of employees enrolled into a DC scheme and with contracting-out to cease in 2016, is that the end of DB? Is there a middle ground between gold-plated DB and statutory minimum DC? How ambitious is defined ambition? How can risk be shared in DC? ATP case study - how a pension product using risk sharing elements can ensure its members gets a fair, predictable and good retirement income. Don t forget tax! In recent years, pensions taxation has become fearfully complex and both the annual and lifetime savings allowances have been reduced significantly. What needs to be done to reassure employers who want to provide more than a basic DC pension that they will not be thwarted by tax laws? Looking forward Planning for the key pension decisions DB and DC in a world of continuing change. Chairman s conclusion and questions Euan Reid Morten Nilsson Karen Goldschmidt Mark Smith Bob Scott Lunch 13:00

4 LCP Annual Pensions Conference 2013 Find out more at Speaker panel GUEST SPEAKERS Anthony Hilton Journalist, The Evening Standard Anthony Hilton is Financial Editor of the Evening Standard and a Wincott Financial Journalist of the Year. An author, broadcaster and lecturer, he has also served as a non-executive Director of insurance and publishing companies. He is also a columnist for The Independent writing on business and policy. Joining Fleet Street as a trainee on the Guardian, Anthony served in New York as Business Correspondent for the London Sunday Times and City Editor of The Times before joining the Standard. Anthony makes regular television and radio appearances, commenting on the international money markets and the state of the economy. He also assesses the outlook for investments, the pensions crisis and corporate governance. Morten Nilsson CEO, Now: Pensions Prior to joining NOW: Pensions, Morten Nilsson was a Vice President and Head of International Operations at ATP. He was responsible for ATP s UK Office, which he set up in May 2010, which was part of ATP s international expansion. Morten has 20 years of professional experience from the financial sector predominantly within business development, operations, strategy and transformation. In 2001 he joined, and later became CEO, ATP PensionService A/S, which provides pensions administration to other large pension funds in Denmark. Morten then headed up the project of redesigning the entire set of processes in ATP which set the principles for how they are today. He has also worked within ATP s investment department. Morten was a Non-Executive Director of the board of ATP ErhvervService Ltd., which provided social security services to corporates, and PensionInfo, a web portal where you can collect information on all your pensions.

5 LCP SPEAKER PANEL Chairman Bob Scott, Partner Bob has been a partner of LCP since 1988 and became senior partner on 1 April He is the honorary secretary of the Association of Consulting Actuaries. Bob is the author of LCP s Accounting for Pensions report and he is a regular commentator on UK pensions issues in the media. Philip Boyle, Partner Phil is one of LCP s thought leaders who specialises in setting investment strategies for pension funds and insurers. He has also worked for the British Government on setting the investment strategy for nuclear decommissioning funds and for the World Bank on deregulating aspects of the investment markets in Pakistan. Karen Goldschmidt, Partner Karen is a leading pensions industry expert assisting clients in addressing the opportunities and pitfalls presented by the ever-changing pensions taxation regime. As Chair of the Pensions Taxation Committee of the Association of Consulting Actuaries, she is heavily involved in work with HMRC to resolve unintended outcomes of the taxation changes and framing the 2014 changes. Ian Mills, Partner Ian is an investment strategy specialist, with a particular focus on risk management and de-risking. He has particular expertise in the application of derivatives to pension scheme management, and spearheads LCP s research into these areas. Prior to joining LCP, Ian was a Trustee Director of his former employer s large DB pension scheme. Euan Reid, Partner Euan is an actuary advising pension scheme trustees and sponsors on strategy and day-to-day management. He especially enjoys using LCP s ipad technology and interactive modelling tools to share ideas and generate engaging and illuminating discussions with his clients. Euan manages a team of actuarial staff and, with colleagues on LCP s Think Tank, he keeps our ideas at the cutting edge. Mark Smith, Partner Mark leads the delivery of LCP s governance and communication services. Mark has extensive experience advising employers and trustees on the design, management and communication of pension and employee benefits plans. He has also managed major human resource and pension change projects for some of the UK s largest employers.

6 LCP Annual Pensions Conference 2013 Find out more at Thursday 19 September 2013 The InterContinental Hotel, London, UK 08:30-13:00 followed by lunch How to register Web Tel +44 (0) Fax +44 (0) Post Nelly Geudin, LCP, 30 Old Burlington Street, London W1S 3NN, UK Last year s event Over 250 delegates attended LCP s Annual Pensions Conference in The theme was A down-to-earth approach to pensions strategy. Delegate, LCP Annual Pensions Conference 2012 My annual update on trends and ideas. As informative and thought provoking as ever. Delegate, LCP Annual Pensions Conference 2012 Outstanding as always! LCP consistently manage to deliver not just a slick event and presentations, but also the bit that others fail to do - some really meaty insight and content.

7 The InterContinental Hotel One Hamilton Place, Park Lane, London, W1J 7QY, UK Tel: +44 (0) Fax: +44 (0) Directions The hotel is located on Hyde Park Corner. Nearest underground station is Hyde Park Corner (Piccadilly line). The hotel is accessible from all central London stations. Nearest station is Victoria (1.5 miles). There is valet parking available at the hotel ( 50) and an NCP car park nearby on Carrington Street, Mayfair, London, W1J 7AF Tel: +44 (0) Map data 2012 Google LCP is a firm of financial, actuarial and business consultants, specialising in the areas of pensions, investment, insurance and business analytics. Lane Clark & Peacock LLP Lane Clark & Peacock LLP Lane Clark & Peacock Lane Clark & Peacock Lane Clark & Peacock London, UK Winchester, UK Belgium CVBA Ireland Limited Netherlands B.V. Tel: +44 (0) Tel: +44 (0) Brussels, Belgium Dublin, Ireland Utrecht, Netherlands enquiries@lcp.uk.com enquiries@lcp.uk.com Tel: +32 (0) Tel: +353 (0) Tel: +31 (0) info@lcpbe.com enquiries@lcpireland.com info@lcpnl.com LCP Libera AG LCP Libera AG LCP Asalis AG Lane Clark & Peacock UAE Zürich, Switzerland Basel, Switzerland Zürich, Switzerland Abu Dhabi, UAE Tel: +41 (0) Tel: +41 (0) Tel: +41 (0) Tel: +971 (0) info@libera.ch info@libera.ch info@asalis.ch info@lcpgcc.com All rights to this document are reserved to Lane Clark & Peacock LLP ( LCP ). This document may be reproduced in whole or in part, provided prominent acknowledgement of the source is given. LCP is part of the Alexander Forbes Group, a leading independent provider of financial and risk services. Lane Clark & Peacock LLP is a limited liability partnership registered in England and Wales with registered number OC LCP is a registered trademark in the UK (Regd. TM No ) and in the EU (Regd. TM No ). All partners are members of Lane Clark & Peacock LLP. A list of members names is available for inspection at 30 Old Burlington Street W1S 3NN, the firm s principal place of business and registered office. The firm is regulated by the Institute and Faculty of Actuaries in respect of a range of investment business activities. The firm is not authorised under the Financial Services and Markets Act 2000 but we are able in certain circumstances to offer a limited range of investment services to clients because we are licensed by the Institute and Faculty of Actuaries. We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide. Lane Clark & Peacock UAE operates under legal name Lane Clark & Peacock Belgium Abu Dhabi, Foreign Branch of Belgium. Lane Clark & Peacock LLP. UK c0311/0311

8 Registration form Please complete this registration form and return to us by 12 September LCP ANNUAL PENSIONS CONFERENCE 2013 Thursday 19 September 2013 The InterContinental Hotel, London, UK I wish to register for I can confirm that complimentary place(s) at the above event people would like to attend lunch Please enter your details below: 1 First name: Title: Last name: Job title: 2 First name: Title: Last name: Job title: Company name: Scheme name: Address: Postcode: Tel No: Home/personal Work Please provide your address clearly in BLOCK CAPITALS. Confirmation/further information will be sent by unless instructed otherwise. Home/personal Work Special access, dietary or other requirements: While we endeavour to accommodate everyone, please be aware places are limited. I am unable to attend, please send me a conference pack (by ) Please post this form to Nelly Geudin, LCP, 30 Old Burlington Street, London, W1S 3NN, UK or fax to +44 (0) Alternatively you can register online at us at lcpevents@lcp.uk.com or call us on +44 (0)