IMPROVING DC OUTCOMES

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SPECIAL RATE FOR SCHEME SPONSORS AND TRUSTEES IMPROVING DC OUTCOMES Reform, Regulation and Governance Defined Ambition and Redesigning DC Default Funds and Investment Innovation Maximising Value At

1 SPECIAL RATE FOR SCHEME SPONSORS AND TRUSTEES IMPROVING DC OUTCOMES Reform, Regulation and Governance Defined Ambition and Redesigning DC Default Funds and Investment Innovation Maximising Value At Retirement One Day Conference Tuesday 12 March 2013 London Marriott, West India Quay, Canary Wharf E14 To ensure notification of future conferences please send your address to

2 A uto-enrolment has intensified focus on the variable quality of DC provision. It is hoped that autoenrolment will kick-start the savings habit but good quality provision along with minimal opt-outs and adequate contribution levels are essential to secure a positive legacy. As a result there has been a mass of initiatives and proposals, from outside and within the industry, on how to improve DC for new and existing savers. A new regulatory framework is emerging and a variety of reforms and proposals to improve practice and efficiency are on the wider agenda. The government's Defined Ambition proposals have given impetus to the debate on guarantees and risk sharing and the practicality of delivering this is receiving greater attention. The need for better default fund design and governance are widely acknowledged and the increasing flow of money into DC is encouraging investment innovation. Annuity purchasing reforms should improve at-retirement decisions but the scope is limited and processes are being developed to ensure all retirees are helped to optimise their retirement outcome. There is then wide scope for improving DC, whether by enhancing existing structures or a fundamental redesign and this conference analyses the key areas. It will bring together a wide range of stakeholders and practitioners to encourage innovative thinking and practical suggestions on the best way forward to deliver good member outcomes. We hope you will be a part of it. Conference Chairman Richard Butcher Managing Director PITMANS TRUSTEES

3 IMPROVING DC The Macro View The pressure to improve DC has led to a raft of proposals and initiatives from a wide range of stakeholders and practitioners. What can policy makers, regulators, the pensions industry and employers do to make DC work better and encourage saving? Where are the quick wins and unnecessary distractions? What do members actually need and how can it best be delivered? Improving DC Outcomes: Quick Wins, Slow Burners and Damp Squibs Barry O Dwyer Deputy Chief Executive PRUDENTIAL What do Members Need and Are They Getting It? Kay Blair Vice Chair FINANCIAL SERVICES CONSUMER PANEL Regulation and Governance The DC regulatory framework is evolving. The Pensions Regulator has outlined the core principles and features of good schemes and the drive to raise standards will continue in What s next on the regulatory agenda? What are the practicalities of implementing TPR s core components in a trust and contract based context? What should contract based governance look like and how is the trustee role evolving in this space? Improving Standards in DC What is the Regulatory Agenda? Darran Burton Head of DC Regulation THE PENSIONS REGULATOR Interpreting and Applying the Regulator's Principles Dave Roberts Group Pensions & Benefits Manager BRITVIC Addressing the Governance Gap in Contract Based DC Robert Matthews Director CAPITAL CRANFIELD TRUSTEES Default Funds and Investment Innovation Many, perhaps the majority, of default funds are not fit for purpose. How do you design a default that's suitable for a broad spectrum of members? Which investment solutions are most suitable in an autoenrolled world? Innovative approaches, targeting better and more certain outcomes, are being developed but how does this square with the pressure to deliver low cost solutions? Engagement is a mantra of the industry but will engagement on investment lead to better outcomes? The NEST Default: In Principle and In Practice Mark Fawcett Chief Investment Officer NEST CORPORATION

4 OUTCOMES Improving Member Outcomes through Investment Innovation Julian Lyne Head of DC F&C INVESTMENTS Member Engagement on Investment: Is a Little Knowledge a Dangerous Thing? Paul Armitage DC Consulting Director JLT BENEFIT SOLUTIONS Defined Ambition and Redesigning DC There has been much theorising on how to introduce greater risk sharing and certainty to DC but little application. Will the government's defined ambition agenda be a game changer? What is the appetite of employers and employees? Which risk should be shared, at what cost and with whom? What are the pros, cons and regulatory suitability of the options? The Answer is CDC Now What is the Question? Kevin Wesbroom Senior Partner AON HEWITT Bringing Capital Guarantees from Retail to DC Scott Eason MD, Head of Insurance & Pension Advisory SOCIETE GENERALE The Feasibility of Income Guarantees via Periodic Decumulation Phil Brown Head of Retirement Solutions Propositions LV= Maximising Value At Retirement Optimal retirement outcomes, in terms of rate and shape of solution, depend upon good decumulation decisions. How can the benefits of purchasing reforms in the contract space be replicated for all? How does the inexorable shift toward personalised underwriting affect matters? What are the realities of delivering face to face advice in a post RDR, auto enrolled, world? To what extent can technological advancements be harnessed to deliver low cost solutions? Purchasing Reform and the Shift to Personalised Pricing: What are the Implications for Schemes and Members? Steve Lowe Group External Affairs & Customer Insight Director JUST RETIREMENT How Can We Facilitate Optimum Outcomes for Contract and Trust Based Members? Peter Quinton Head of Annuity Placement BUCK CONSULTANTS

5 Registration To register for Improving DC Outcomes please write clearly in BLOCK CAPITALS. Please photocopy the form for additional delegates. Telephone enquiries are very welcome but registrations should be in writing. Mr Mrs Ms Miss Dr Other First name Surname/family name Job title Company/Organisation Address Postcode Telephone Fax 423BG Ticket Options please select standard delegate ticket(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 at 20% 130 each Total 780 multiple ticket(s) as for standard ticket where 3 or more delegates from the same company are booked at the same time (names can be advised later) VAT at 20% 109 each Total 654 scheme sponsor and trustee ticket(s) as for standard delegate ticket but reduced price applicable to scheme sponsors and trustees only (eligibility at the discretion of the organisers). For full details please telephone non-delegate pack(s) for those unable to attend consisting of speaker documentation and full sound track synchronised with available visuals. Supplied on a CD. For postal deliveries please allow 14 days after the conference has been held for the CD to arrive VAT at 20% 40 Total 240 Please turn over

6 Payment Payment Method please select one of the methods below and ensure that payment is received by us prior to the date of the conference: Cheque made payable to Westminster and City enclosed will be sent against invoice Bank Transfer. Sort Code A/C When paying please quote invoice number. Overseas Bank Transfer. IBAN GB30MIDL Please show sender s name. Debit Card. Please provide all the requested information. Credit Card. Please add a 2% bank processing fee for this method* Visa Debit Maestro Switch Visa Credit* Mastercard* not Amex Number Expiry date Last 3 digits of security code Postcode Property number (if any) Name on card if different from registrant... Please give your order number if required by your accounts department... A VAT invoice will be returned with your joining instructions. VAT No Please indicate how you would like the joining instructions sent: Post Both Venue and Catering The conference venue is London Marriott, West India Quay, Canary Wharf, London E14. Tel (020) Registration from Opening session Tuesday 12 March Please tick if you require a vegetarian lunch a dairy-free lunch no shell fish Please tick for details of overnight accommodation (not included in the registration fee). Terms The full fee becomes payable upon registration and must be paid prior to the event or admission may be declined. Written cancellations received and acknowledged by 26 February 2013 attract a 90 per cent refund. Substitutions are acceptable if notified in advance. 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. 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 or your details to Westminster and City Programmes: POST The Coach House, Heath Farm, Tannery Lane, Send, Surrey GU23 7EF registrations@westminsterandcity.co.uk FAX (020) You may also register on our website PHONE (020) From Overseas

7 Networking Exhibiting Space As specialists in financial services we attract to our events a senior audience of thought leaders and strategic decision makers representing a wide range of organisations. You can maximise the excellent networking opportunities and simultaneously enhance your company profile by taking an exhibition space in the registration and refreshment areas. This is a cost effective way to make valuable contacts in addition to promoting your company brand, product or service. A space about two metres long includes one standard delegate ticket and also an advertisement in the conference binder. PRICE 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. Make your presence felt without actually being there! PRICE VAT Advertising An advertisement in the delegate binder will reach all registered delegates plus purchasers of nondelegate packs. PRICE VAT Other Opportunities Lunch sponsorship Drinks party sponsorship Private networking dinner To book any of the above facilities or discuss your requirements please contact Anna Barber annabarber@westminsterandcity.co.uk

8 Other Events The Eleventh Conference on Bulk Annuities BUYOUTS, BUY-INS AND THE RISK TRANSFER MARKET 17 and 18 April 2013, London The Third Conference on WRAPS AND PLATFORMS 24 April 2013, London To Contact Us For registrations contact Anna Barber For conference content contact Barry Griggs For promotional opportunities contact Anna Barber For database amendments contact Mark Upton For future events visit TEL From overseas FAX From overseas Westminster and City Programmes PHONE FAX BOOKINGS POST The Coach House, Heath Farm, Tannery Lane, Send, Surrey GU23 7EF WESTMINSTER AND CITY PROGRAMMES LIMITED The design, format and intellectual content of this brochure are the copyright of Westminster and City Programmes. Westminster and City and the Westminster and City logo are registered trade marks. Any infringement will give rise to legal proceedings.

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