Planning for the Endgame
Fresh thinking for DB Pensions
London | 18 September 2019
David Fairs
The Pensions Regulator
Andrew Giles
Insight Investment
Samantha Pitt
Law Debenture Pension Trust & NED
The FT and Pensions Expert, in partnership with Insight Investment, present an exclusive Executive Briefing geared at helping employers choose the right de-risking option for their defined benefit (DB) scheme as schemes reach increased maturity. Key factors such as value for money, security for members, mitigation of balance sheet risk and flexibility to deal with future uncertainty, should be considered to make the right long-term decision for schemes.
This Breakfast Briefing will bring together Chief Financial Officers, Finance Directors, Group Pensions Directors and other senior Directors in charge of their defined benefit pension scheme. Hear a detailed keynote from The Pensions Regulator (TPR) on what companies need to do to ensure their schemes remain compliant throughout the de-risking journey. Also, listen to industry leading panellists debate the merits of the various options available and what they will mean for DB scheme sponsors.
Add to my Calendar 09/18/2019 08:00:0009/18/2019 11:00:00falsePlanning for the EndgameThe FT and Pensions Expert, in partnership with Insight Investment, present an exclusive Executive Briefing geared at helping employers choose the right de-risking option for their defined benefit (DB) scheme as schemes reach increased maturity. Key factors such as value for money, security for members, mitigation of balance sheet risk and flexibility to deal with future uncertainty, should be considered to make the right long-term decision for schemes.This Breakfast Briefing will bring together Chief Financial Officers, Finance Directors, Group Pensions Directors and other senior Directors in charge of their defined benefit pension scheme. Hear a detailed keynote from The Pensions Regulator (TPR) on what companies need to do to ensure their schemes remain compliant throughout the de-risking journey. Also, listen to industry leading panellists debate the merits of the various options available and what they will mean for DB scheme sponsors.Planning-for-the-Endgameda2c1041fc12676eb3aca370a8aad36dMM/DD/YYYY
Agenda - 18th Sep
Registration, Breakfast and Networking
Claer Barrett, Personal Finance Editor, Financial Times
Keynote address from the Pensions Regulator: Setting a long-term strategy for schemes
Considering the risks inherent to under-funding and how sponsors can move past this
Ensuring measurement and understanding of risk as schemes progress to their long-term funding target
Consolidation and improving efficiency via greater scale
Next steps for DB regulation
David Fairs, Executive Director of Regulatory Policy, Analysis and Advice, The Pensions Regulator
Presentation from Insight Investment: Introducing an objective framework to help schemes make a more informed de-risking decision
Insight Investment present an objective analytical framework to help schemes and corporates make a more informed de-risking decision on their journey towards their endgame, which for many is a full buy-out of the liabilities. Insight Investment use this framework to demonstrate the impact of various de-risking choices, such as a pensioner buy-in, which can help schemes choose the option that maximises the certainty of reaching a full buy-out.
Andrew Giles, Executive Vice Chairman, Member of the Executive Management Committee, Insight Investment
Panel Discussion: Choosing the right path for schemes
This thought-provoking panel will debate the pros and cons of the various de-risking options available to DB schemes. Whether it is through the continued use of a trusted asset manager, handing over to an insurer or switching to a superfund, understanding the impact this will have on businesses in the long term is key. Additionally, efficiency, compliance and mitigated risk should be prioritised to ensure companywide objectives are met.
Patrick Race, Partner, KPMG UK
Samantha Pitt, Director, Law Debenture Pension Trust & NED
Moderated by Angus Peters, Editor, Pensions Expert
Angus Peters, Editor, Pensions Expert
Coffee and Networking
Executive Director of Regulatory Policy, Analysis and Advice
David was appointed Executive Director of Regulatory Policy, Analysis and Advice in July 2018. He is responsible for development of policy for TPR and has oversight of TPR's professional advisers including lawyers, actuaries, investment advisers and business analysts. David is a former Chairman of the Association of Consulting Actuaries and Director of the Association of Consulting Actuaries Limited, a former Council member of the International Actuarial Association, and inaugural Chairman of the Joint Industry Forum for Workplace Pensions. He was also a Council member of the Society of Pension Consultants and is immediate past Chairman of the Actuaries Club.
David was a Senior Partner in the Pensions practice at KPMG where he advised on the design, implementation, management and communication of pensions and employee benefit arrangements. Immediately prior to joining TPR, David developed and lead the Trustee Board Effectiveness service provided by KPMG and in collaboration with the Pensions and Lifetime Savings Association. He has previously worked with DWP and HM Treasury on pensions and pension taxation policy.
Executive Vice Chairman, Member of the Executive Management Committee
Andrew joined Insight in April 2003 following the acquisition of Rothschild Asset Management Limited (RAM) and was named Head of the Financial Solutions Group in September 2003. In November 2009, Andrew joined the Executive Management Committee as Chief Investment Officer – Solutions and was appointed to his current role as Executive Vice Chairman in September 2018. He has 35 years of investment experience, spanning both the UK and overseas institutional markets. Throughout this time, he has championed the development and use of derivatives and risk management techniques within institutional funds. He is one of the industry's pioneering architects of liability-driven investment and has been responsible for leading Insight's capability in this area. Outside the institutional market, Andrew has been responsible for innovating derivative-based structured products that have become a significant feature of the retail investment market.
Samantha Pitt - Law Debenture Samantha has acted as trustee for over 5 years to the £6.5bn Network Rail (NR) DC. Career Average (CARE) and DB (part of Railway Pensions Scheme) pension schemes. She has chaired the Investment Committee for the NR CARE and DC Schemes, conducted regular reviews of investment strategy and implemented a Liability Hedging Strategy for the CARE scheme. Since joining LawDeb last year, Samantha has worked across nine schemes including DB, DC and Hybrid with assets ranging from £3m to over £6bn. She chairs a large DC scheme, as well as sitting on Audit and Risk and Operations Committees. Samantha has supported projects including corporate transactions and securitisation of future funding and recently managed a £250m buy-in structured to achieve eventual buy out. She has led the issuance and management of a 50bn debt (including inflation linked bonds) and £30bn derivative portfolio at NR, as well as the negotiation with HM Government of the financial rules and governance for NR post reclassification to the Public Sector and NRs future capital and financing structure. Samantha acts as a NED of The Guinenss Partnership (one of the largest Housing Associations) and Chair of its Audit and Risk Committee and Pensions Committee.
Patrick Race
Partner, Investment Advisory
Patrick Race is a Partner in KPMG's Investment Advisory business and has worked as an investment actuary with corporate pension plans, public funds, hospitals and endowments since 1990.
Following a maths degree from Nottingham University, Pat started his career with Bacon & Woodrow (now Aon Hewitt) and qualified as a Fellow of the Institute of Actuaries before joining Mercer in 1996. Pat led the Birmingham based Midlands investment business for Mercer for 6 years before moving to Chicago to lead the Midwest investment business from 2004 to 2007. Pat's most recent leadership role was to run Mercer's UK investment business, sitting on Mercer's UK market leadership team from 2011 to 2015.
Pat joined KPMG as a partner in 2017 to continue his "trusted adviser" client work and to help grow the Partnership's Investment Advisory business. Pat's work covers a mix of trustee and corporate appointments with an increasing focus on forging positive working relationship between the different stakeholders.
CHAIR & MODERATORS (2)
Angus Peters
Pensions Expert
Angus Peters has reported on a wide variety of issues affecting DB and DC schemes since joining Pensions Expert in June 2016. Having been introduced to the world of pensions and investment as an intern at Pensions Expert and MandateWire, he went on to work as a reporter at The Sun Online before returning to the FT.
Claer Barrett
Personal Finance Editor, Financial Times
Editor, FT Money
Claer Barrett is the Financial Times' Personal Finance Editor as well as the editor of FT Money. She has worked for the FT group for over a decade, joining the Investors Chronicle magazine as the financial crisis took hold, specialising in property and buy-to-let investment. She became the FT's retail correspondent in 2011, then served as deputy UK news editor before being appointed to her current role. Her weekly Serious Money column won the Headline Money commentator of the year award in 2016 and 2017. A frequent contributor to TV and radio debates on personal finance and investing, she is an expert on the BBC1 series Right on the Money.
This event is designed to meet the needs of Chief Financial Officers, Finance Directors, Group Pensions Directors and other senior Directors in charge of their defined benefit pension scheme.
Register now for this exclusive morning briefing.
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Insight Investment has built a unique investment platform that delivers outcome-oriented investment solutions. Our clients are among the most sophisticated institutional investors in the world and include leading insurers, pension funds, sovereign wealth funds and corporations. Our investment strategies include fixed income portfolios focusing on assets ranging from conventional sovereign and corporate bonds to emerging market debt and illiquid credit. Our strategies are designed to evolve dynamically to meet changing needs and stay ahead of market and regulatory developments.
www.insightinvestment.com
Pensions Expert is the Financial Times' specialist title for UK workplace pension schemes. It is the authoritative source of information on how these schemes and their sponsoring employers are working together to provide their members with an adequate retirement income.
Our case studies, news analysis and informed comment provide trustees, management teams and their providers with timely, practical information to inform their day-to-day jobs.
www.pensions-expert.com
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