Retirement Income Options

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SPECIAL RATES FOR SMALL IFA FIRMS THE 19TH ANNUAL CONFERENCE ON ANNUITIES AND DRAWDOWN AND EMERGING SOLUTIONS Retirement Income Options The Reality of Pension Freedom Including contributions from:

1 SPECIAL RATES FOR SMALL IFA FIRMS THE 19TH ANNUAL CONFERENCE ON ANNUITIES AND DRAWDOWN AND EMERGING SOLUTIONS Retirement Income Options The Reality of Pension Freedom Including contributions from: Otto Thoresen, Chair, NEST CORPORATION Lesley Titcomb, Chief Executive, TPR Clive Bannister, CEO, PHOENIX GROUP Duncan Jarrett, MD Retail and At Retirement, AEGON Paul Bucksey, MD Head of DC, BLACKROCK Dominic Grinstead, Managing Director UK, METLIFE Bernie Hickman, MD Individual Retirement, LEGAL & GENERAL 25 and 26 November 2015 A Two Day Conference Days Separately Bookable The London Marriott, Canary Wharf, London E14 4ED Visit our website at

2 Pension freedom has transformed the world of retirement and a new market is taking shape. By late November, when this event takes place, we will have several months worth of data and experience of the new world. Although the market is continuing to evolve in response to the reforms with further policy and regulatory change on the horizon it is possible to provide increasingly detailed analysis of what has happened since 6 April and make informed judgements on what the future might look like. This conference will explore the new reality. Day 1, Freedom and Protection, will consider what has happened since 6 April, whether freedom and protection are being reconciled and the future outlook. It will, in particular, explore the development of processes and propositions that will engage investors and help them to reach informed decisions that optimise the value of their retirement savings. Day 2, Innovation and Disruption, will focus on retirement products and strategies. It will look at the evolution of previously existing solutions, recently launched solutions and how they can best be utilised in the new world. It will also consider future innovation and the role of new entrants. Welcome to the Annual Conference Last year's event took place at a time when the market was busily preparing for the onset of pension freedom. To reflect the anticipated transformation of the market, the annual event changed too: a new title and an agenda extended to two days to accommodate the quantity of subject matter requiring attention. What didn't change was the calibre of speaker, the quality of material presented and an exceptionally strong attendance comprising senior decision makers and thought leaders representing the leading players in the market. Feedback for the new format was extremely positive so we have again assembled an outstanding cast of speakers to deliver over two days the latest market analysis and new thinking. Today's retirement income market is radically different from that in 1997 when our first Annuities and Drawdown conference took place but the event itself remains the annual meeting point for retirement income specialists. We hope you will join us in November.

3 Retirement Income The Reality of Pension Freedom 25 November 2015 Day 1 Freedom and Protection Market Overview The retirement income market has undergone unprecedented change during the past year with further upheaval likely. What have we learned since 6 April? Has the initial dash for cash subsided? How have buying patterns changed? How successfully has the industry delivered freedom and choice? Who have been the main beneficiaries? How might Government reviews on pensions tax relief, advice and charges affect the market? What Have We Learned So Far? Duncan Jarrett Managing Director, Retail and At Retirement AEGON Regulation Regulation is continuing to evolve to reflect the new world. What are the key items on the agenda? How well have trustees and the industry adapted and where is improvement required? Ensuring Good Member Outcomes in the Pension Freedom Era Lesley Titcomb Chief Executive THE PENSIONS REGULATOR Where next for the FCA s retirement income market study and plans to close the advice gap? How do individuals know they have made an informed decision and how should insistent customers be handled? The Regulatory Outlook for Retirement Income Maggie Craig Head of Pension Policy FCA Communications and Conduct Risk Pension freedom has transformed the way that companies need to operate. Managing conduct risk is a key concern but needs to be balanced with ensuring that customers get the right outcomes. How can changes in approach, processes and customer engagement achieve this? How do you measure whether you are driving the right outcomes for customers? Managing Conduct Risk in the New World of Retirement Stuart Paton Evans Retirement Proposition Director LLOYDS BANKING GROUP Customer Insight How are customers responding to their new freedom? What lies behind the product choices they are making? Do existing solutions meet their needs and wants? How should the industry balance the seemingly irreconcilable concepts of freedom and paternalism? What are the implications of financial cross dressing as products escape their conventional definitions of purpose? Pension Freedom What Investors Want Tom McPhail Head of Pensions Research HARGREAVES LANSDOWN Advice Gap Solutions The extent of the retirement advice gap has been exposed by pension freedom. Guidance, full advice and innovative low cost solutions that sit in between, all have a role in helping investors to reach informed decisions. Who is using Pension Wise and how are they using it? How is robo advice - previously limited to the accumulation phase - performing in the decumulation space? How might banks utilise their scale and scope to deliver a range of engagement styles? Pension Wise: Customer Insights and Behaviour Michelle Cracknell Chief Executive THE PENSIONS ADVISORY SERVICE Launching a Robo Advice Proposition: The Story so Far David Stevens Head of Automated Advice Strategy LV= How can Banks Help to Close the Retirement Advice Gap? Andy Marchant Head of Advised Wealth Propositions (Interim) HSBC BANK

4 Options Secondary Annuities Market The creation of a secondary annuities market is widely expected to happen despite the delay to the timetable. How will it operate? Who will sell? Who will buy? What are the necessary conditions for consumer protection and competition? The Secondary Annuities Market: Extending Freedom and Choice Steve Lowe Group Communications Director JUST RETIREMENT GROUP State Pension The state pension forms a significant portion of most people s retirement income. Understanding how this might change in the future is relevant to individuals and industry alike. How much does the triple lock cost? When is the National Insurance Fund expected to run out? What are the implications of a merger of income tax and NICs? Just how sustainable is the state pension? State Pensions: What Might the Future Look Like? Trevor Llanwarne Government Actuary 2008 to 2014 Day 1 Chairman David Dunn Managing Director MAKING SENSE OF RETIREMENT 26 November 2015 Day 2 Innovation and Disruption Innovation One of the great challenges of pension freedom is to help savers achieve a sustainable retirement income without denying them freedom and flexibility. NEST has provided a blueprint on how this might be achieved. What does this innovative solution look like? The Decumulation Product of the Future? Otto Thoresen Chair NEST CORPORATION Blended Solutions Blended solutions have emerged as one of the key product developments. A combination of annuity and drawdown can meet the needs of many retirees but will they appeal to customers? Might customers, distrustful of packaged solutions, prefer to buy an annuity from one company and drawdown from another? How will blended offerings from different providers be compared? Why Would Anyone Buy Blended Solutions? Steve Groves Chief Executive Officer PARTNERSHIP Simplified Advice Simplified advice can help to close the advice gap but few services have actually launched. This session will look at simplified advice in practice what it looks like, how it works, customer experience and outcomes. It will also consider the future for the closed fund consolidator market. Simplified Advice Case Study: Facilitating Pension Freedom for Customers Clive Bannister Chief Executive Officer PHOENIX GROUP Investment Solutions It has been suggested that multi-asset funds and investment trusts are particularly well suited to serve investors who no longer wish to annuitise. What are their advantages and disadvantages compared to other investment solutions? How can they best be utilised within portfolios both pre and post retirement? What are the costs and for whom are they suitable? Multi-Asset Solutions: The New Default? Paul Bucksey Managing Director, Head of Defined Contribution BLACKROCK The Investment Trust Opportunity James De Sausmarez Director, Head of Investment Trusts HENDERSON GLOBAL INVESTORS

5 Equity Release and Housing Equity release is a growing market that is widely expected to play a more central role in retirement provision. What was the thinking behind L&G s acquisition of New Life? What is the scope for greater innovation? Does the equity release message need to evolve? How else might housing wealth influence future retirement planning and behaviour? My House is My Pension : The Role of Housing Wealth in Retirement Planning Bernie Hickman Managing Director, Individual Retirement LEGAL & GENERAL Non-Advised Drawdown Drawdown, previously deemed unsuitable for the mass market and requiring advice, has emerged as a nonadvised solution. How does it differ from its advised alternative? How can the risks be mitigated? Where do the lines of responsibility lie? How can it be cost effectively managed? Non-Advised Drawdown: Managing the Risks Eddy Reynolds Director of Propositions STANDARD LIFE Annuity Innovation The demand for annuities has nosedived but customers continue to believe in the benefit of a secure income. Can they be convinced of the benefits of annuities? Can annuities themselves be made more attractive? How will the way they are used evolve? The Future of Annuities and How They Work in the New World Peter Carter Product and Marketing Director RETIREMENT ADVANTAGE Guaranteed Drawdown Guaranteed drawdown was widely tipped to benefit from the pension freedom reforms. Are new blended solutions a threat to its growth? Can innovation deliver a new generation of lower cost guaranteed drawdown? The New Generation of Guaranteed Drawdown Dominic Grinstead Managing Director, UK METLIFE New Entrants Pension freedom gave rise to the concept of people using their pension like a bank account. How does a pension bank account work in practice? What role is there for cash investments in retirement? The First Pension Bank Account? John Hiew Chief Executive ASSURED RETIREMENT Energy costs are cited as one of the greatest concerns held by retirees. A unique and innovative new solution is being developed to address this. What is the potential for this new retirement option? Retirees Main Concerns and a New Solution Garry Felgate Energy Efficiency Director and Peter Quinton Financial Service Director THE ENERGY PENSION COMPANY Day 2 Chairman Nigel Waterson Chairman EQUITY RELEASE COUNCIL and Chair of Board of Trustees NOW: PENSIONS

6 Registration To register for Retirement Income Options The Reality of Pension Freedom please write clearly in BLOCK CAPITALS. Please photocopy this form for additional delegates and to retain the programme. Then post it to the address below or scan and it to Telephone enquiries are very welcome but registrations must be in writing or via our website Mr Mrs Ms Miss Dr Other First name Surname/family name Job title Company/Organisation Address Telephone Fax Postcode Registration Options please indicate in the box the number of each type required. Please note that each registration relates to one person only and cannot be shared or split with another delegate. standard 2 day delegate registration(s) which includes speaker documentation, powerpoint hard copies, lunch with wine, midmorning and mid-afternoon tea, coffee and soft drinks, post conference pack and the networking drinks party on Day VAT 256 each delegate Total BG multiple 2 day registration(s) as for standard delegate where 3 or more delegates from the same company are booked at the same time (names may be advised later) VAT 232 each delegate Total 1392 standard 1 day registration(s) which includes speaker documentation, powerpoint hard copies, lunch with wine, mid-morning and mid-afternoon tea, coffee and soft drinks and post conference pack VAT 128 each delegate Total 768 Please tick attendance day 25 November 26 November multiple 1 day registration(s) as for standard delegate where 3 or more delegates from the same company are booked at the same time for the same day (names can be advised later) VAT 116 each delegate Total 696 (minimum 3) Please tick attendance day 25 November 26 November small IFA firm registration(s) Please call for details of concessionary prices non delegate pack(s) for those unable to attend consisting of CD with full soundtrack and available visuals, conference binder containing speaker details and powerpoint hard copies in full colour. Please allow 14 days after the conference for delivery by post. Both days VAT 80 Total 480 One day VAT 50 Total 300. Please tick 25 Nov 26 Nov Payment Method Please select one of the methods below and send your remittance before the date of the conference. All payments must show the sender's name or, if known, quote the invoice number. A VAT invoice will be returned with your admission ticket and joining instructions. Overseas delegates are liable to VAT because the conference is being held in the UK. VAT No Bank Transfer to HSBC sort code a/c Overseas Bank Transfer IBAN GB30MIDL Swift MIDLGB22 a/c Cheque made payable to Westminster and City Programmes now enclosed. Please send me a VAT invoice. Payment method to be confirmed. Please give your purchase order number, or reference, or the address of your accounts payable.... The preferred payment method is internet bank transfer. Venue and Catering The conference venue is London Marriott, West India Quay Canary Wharf, London E14 4ED. Tel (020) Nearest underground stations Canary Wharf or West India Quay. Registration from Opening sessions on both days Day 1 Wednesday 25 November Day 2 Thursday 26 November Please tick for a vegetarian lunch non dairy or other dietary needs details of overnight accommodation (not included in the fee) Terms The full fee becomes due upon registration and must be paid before the event. Written cancellations received and acknowledged by 11 November attract a 90 per cent refund. Full substitutions are acceptable if the new name and job title are notified by by noon on Monday 23 November and acknowledged. Part substitutions are not permitted. Sharing or splitting of tickets is not permitted. Only one delegate can attend on a two day registration. Non appearance is chargeable. Every effort will be made to keep to the published programme. Occasionally speaker or timetable changes are unavoidable. The right to modify arrangements without liability is reserved. No responsibility is accepted for interruption or consequential loss or errors or omissions in information. Personal data will be held on our database and used to inform you of other events, products and services from Westminster and City and other providers. The information may be disclosed to third parties unless you advise us not to. Please put a cross here if you do not want to receive information from us. I agree to the terms and confirm my registration. Signed Date Please send the completed form to: Westminster and City Programmes FAX From oversees registrations@westminsterandcity.co.uk (please scan form) POST The Coach House, Heath Farm, Tannery Lane, Send, Surrey GU23 7EF You may also register on our WEBSITEwww.westminsterandcity.co.uk or by PHONE From overseas

Networking and Promotions THE 19TH ANNUAL CONFERENCE ON ANNUITIES AND DRAWDOWN Retirement Income Options The Reality of Pension Freedom This is the annual meeting point for the retirement income

and for pre-lunch drinks. It is an ideal way to attract delegates attention and you will get a special mention during the conference.

7 Networking and Promotions THE 19TH ANNUAL CONFERENCE ON ANNUITIES AND DRAWDOWN Retirement Income Options The Reality of Pension Freedom This is the annual meeting point for the retirement income industry, attracting a specialised and numerous audience of thought leaders and senior decision makers representing the leading players in the market. Our networking and promotional opportunities are a cost effective way to make valuable contacts and promote your company, brand, product or service. EXHIBITION PLACES If you are not on the speaker platform you can still reach the same high quality audience by exhibiting in the registration and refreshment area where delegates go during the breaks and for pre-lunch drinks. It is an ideal way to attract delegates attention and you will get a special mention during the conference. The package includes a standard one day delegate ticket plus an advertisement in the delegate binder PRICE VAT per day DRINKS PARTY SPONSORSHIP Delegates are invited to a drinks reception at the conclusion of Day 1 for additional networking. An opportunity is available for a sponsor to host the drinks reception and say a few words by way of introduction and welcome. This package also includes an advert in the delegate binder, literature distribution as well as verbal acknowledgement of your support throughout the day. PRICE from VAT LITERATURE DISTRIBUTION Make contact with all the delegates by putting your firm s sales literature or latest research or report on every delegate s desk. PRICE VAT DELEGATE PACK ADVERTISEMENT Make your presence felt without actually being there by placing an advertisement in the delegate pack. PRICE VAT To book any of the above facilities or discuss your requirements please contact Anna Barber annabarber@westminsterandcity.co.uk

8 THE 19TH ANNUAL CONFERENCE ON ANNUITIES AND DRAWDOWN Retirement Income Options The Reality of Pension Freedom The retirement income market continues to evolve in response to pension freedom and as such is something of a moving target. This brochure aims to be up to date but with frequent new developments it can only reflect what is known at the time of going to press in mid-august. The material on the day will of course reflect the very latest thinking of the expert speaker panel. The programme features fifteen speakers who have not previously spoken at this event and nine who are making a very welcome return. We are very grateful to the many past delegates and speakers who have helped inform the agenda and apologise to those whose suggestions could not be included. The editorial material is not intended to be a summary of speaker views or what they will say on the day. Rather it provides the background context for each session and poses some questions for debate. Interactive questions and discussion follow each session allowing delegates to give their perspective and seek answers to the questions that most interest them. The event provides an excellent opportunity to keep abreast of the latest developments, gain new insights and network with new and existing contacts. Other Autumn Events Automated Investment Services and ROBO ADVICE 8 October 2015, London REVOLUTIONISING RETAIL BANKING 12 November 2015, London Why Westminster and City are Different We are an independent financial services research organisation. At all our events we aim for objective, non-promotional contributions. Speakers are invited to take part only on the basis of merit, never as a result of sponsorship or other commercial considerations. This insistence on complete editorial integrity distinguishes us from most of our competitors. Because delegates pay a fee to attend, our events attract very high quality participation. Nearly all delegates have strategic responsibilities or are senior opinion formers. As a result the networking opportunities are exceptional. To Contact Us For registrations and networking opportunities contact Anna Barber annabarber@westminsterandcity.co.uk For conference content contact Barry Griggs barrygriggs@westminsterandcity.co.uk For database amendments contact Mark Upton markupton@westminsterandcity.co.uk For future events visit Westminster and City Programmes PHONE From overseas FAX From overseas info@westminsterandcity.co.uk BOOKINGS registrations@westminsterandcity.co.uk POST The Coach House, Heath Farm, Tannery Lane, Send, Surrey GU23 7EF The design, format and intellectual content of this brochure are the copyright of Westminster and City Programmes. Westminster and City and the W logo are separately registered trademarks. Any infringement will give rise to legal proceedings. WESTMINSTER AND CITY PROGRAMMES LIMITED 2015

WRAPS AND PLATFORMS. Harnessing the Power of Platforms to Deliver Pension Freedom. Fifth Annual Conference on

WRAPS AND PLATFORMS. Harnessing the Power of Platforms to Deliver Pension Freedom. Fifth Annual Conference on Fifth Annual Conference on WRAPS AND PLATFORMS Harnessing the Power of Platforms to Deliver Pension Freedom Contributions from FCA Nucleus Standard Life Succession HSBC SEI The Lang Cat EY AXA Wealth One