2019 Gatwick Conference

Programme

Those who look only to the past or the present are certain to miss the future John F Kennedy

10 and 11 January 2019 Hilton London Gatwick Airport, South Terminal

CPD ACCREDITATION Institute and Faculty of Actuaries or PMI: Member’s Discretion (Certificated)

STOP PRESS: NORTHERN CONFERENCE Manchester September 2019 Our next Northern Conference will be in Manchester drawing on plenary and seminar topics from this 2019 Gatwick conference as well as fresh topical issues

Chair’s Introduction: Looking to the future ...

Our upcoming Gatwick conference is a little earlier in the year than usual, avoiding most of the disruption of a major update to the conference and hotel facilities at the Gatwick Hilton. It also comes just eleven weeks before we exit the EU which (at the time of writing) may either be very challenging by way of a hard Brexit or more measured if an agreed basis can be found. Inevitably, the challenges to employers as pension scheme sponsors, to trustees, employees and, of course, you our own members are likely to build as the economic impact emerges. Our opening plenary session this year will be particularly insightful and interesting.

What is less clear is just where we will be in terms of further legislative changes in the pensions and savings area as inevitably reforms here may also have to make way for changes driven by economic circumstances. Later this year in the Chancellor’s Budget we may see announcements designed to raise tax revenues, with pension tax relief once again in the cross-wires. We may also see moves to address the cost of social care, although it’s difficult to see the Government being too radical here given the hiccups during the last General Election. We do expect progress will be made to implement some of the measures in the recent DB White Paper, particularly those extending tPR powers and maybe some steps to encourage more scheme consolidation. The ACA will continue to monitor and make representations in these important public policy areas.

On the ‘domestic front’ we expect there will be initiatives driven by the IFoA in relation to the monitoring of actuarial work, with updates too to the education syllabus and CPD changes. We may also see changes to the overall oversight of the Profession flowing from the Kingman Review of the FRC.

Turning to the conference, we look forward in our opening plenary to welcoming leading economist Stephen King, who is HSBC’s Senior Economic Adviser. He has been described as having a unique ability to explain how the world economy ‘adds up’ and skilfully placing economic developments in their rightful political and historical context. He is author of ‘Grave New World’, ‘When the Money Runs Out’ and ‘Losing Control’. For our afternoon plenary, we welcome back David Fairs, who is a former ACA Chair, and is now Executive Director, Regulatory Policy, Analysis and Advice at the Pensions Regulator.

Thanks to the hard work of our organisers and the willingness of speakers, for which the Association is most grateful, the programme of seminars is as usual very varied covering many of the mounting challenges I have referred to in pensions, investment, professional and consulting issues and business skills and is designed to meet the needs of members from firms of all sizes. This year, we again have a special programme on the Thursday afternoon ahead of the main conference. Our Smaller Firms seminar, designed for firms with five or fewer members, has become an established part of the programme and is repeated this year. Alongside this there will be a seminar focusing on international issues and we will repeat the seminar organised by our Younger Members’ Group — more details on page 5 and to follow.

We open the conference with our usual dinner, where our guest speaker is actor, writer and TV presenter Alexis Conran, who is best known as the co-host of the BBC Three Show, The Real Hustle. He has helped the OFT to show consumers how to avoid becoming the victims of a fraud. He is also a winner of Celebrity MasterChef and is a member of the Magic Circle.

I am sure you will find this year’s programme of interest. I look forward to seeing you at the conference.

Jenny Condron Chair

Our guest speakers this year include...

After dinner — Alexis Conran Morning plenary — Stephen King Afternoon plenary — David Fairs 2 Conference information and registration details

Conference Fees The full conference fee of £640 + VAT (the same as last year) includes registration information and conference pack, Thursday evening champagne and beer reception, dinner (including wines) and overnight accommodation on Thursday 10 January 2019 at the Hilton London Gatwick Airport, including breakfast, lunch, coffee and tea breaks on Friday. Registration will be from 17.00 hours on Thursday in the Hotel Lobby.

A limited number of Friday only places are available at a fee of £570 + VAT (the same as last year).

If you wish to attend the conference, please complete the enclosed registration form and forward it with your cheque (or pay by BACS/electronically) for the main conference fee as soon as possible. Where your firm is making a ‘group’ booking, please ensure that this is sent in as quickly as possible. Please note that only ACA members and invited guests are entitled to attend the conference .

Your booking will be acknowledged and a VAT receipt provided. Final registration details will be issued in late December 2018.

Accommodation Included and special packages There is no need to make your own hotel accommodation reservation. This will be handled by the conference organisers on receipt of your registration form. The cost of your hotel room for the night of Thursday 10 January is included in the full conference fee.

Any extras (telephones, laundry, room service etc) are the responsibility of the delegate. The Hilton London Gatwick Airport is within the Gatwick Airport (South Terminal) complex and is convenient for air, rail and road access. Ample car parking space is available in the multi-storey car park beside the hotel.

Please note there are a limited number of places for those who wish to stay overnight at the hotel but not attend the Thursday night dinner. If this is your choice, please reserve a place by returning the completed registration form, as soon as possible.

Thursday seminars: Smaller Firms, International and Younger Members If you wish to register an interest in attending one of the three Thursday afternoon seminars for Smaller Firms, the International seminaror the Younger Members’ Group seminar (further details, see page 5), please complete the registration form indicating your interest. Places may have to be restricted and will be allocated on a first come, first served basis.

The Smaller Firms, Younger Members’ Group and International seminars are all free-of-charge.

Friday Seminar Selections There are four sessions on the Friday where delegates can choose one from a number of seminars in each series. A summary of each seminar’s content is featured on the back pages of this Programme. Please ensure you indicate on the Registration Form which seminars you wish to attend (by marking one seminar number in each series). This information is needed to allocate suitable rooms. Seminar attendance is on a first come, first served basis. The seminar programme may change due to demand for individual seminars.

Cancellations In order to offset fixed expenses, there will be a deduction from the registration fee if a place/places are cancelled for any reason after 12 November 2018. There will be no refunds for cancellations received after 10 December 2018 but, of course, firms can transfer a paid place to another member if they so wish after this date.

No refunds shall be made for cancellations due to inclement weather. If the organisers must cancel the conference in its entirety due to circumstances beyond their control (including but not limited to acts of God, war, terrorism, failure of transportation, weather, accidents, fires, electrical failures, strikes, postal delays, explosions and government orders or regulations) the organisers may, subject to the terms of the insurance cover for the conference, refund the appropriate registration fees to conference registrants; no refunds shall be made for travel expenses related to the conference.

CPD Members should note that the main conference and Thursday seminars can count for CPD. Certificates of attendance will be issued after the conference.

Your Conference Contact If you have any queries, contact Tracey Gleed on 020 3102 6761 or at [email protected]

The organisers reserve the right to change the programme in the event of speakers becoming unavailable or in response to demand for certain sessions.

Main Conference Programme

Thursday 10 January 17.00 Hrs Registration at the Hilton London Gatwick Airport 19.00 Hrs Champagne reception followed by dinner (19.30 Hrs) Guest after-dinner speaker: Alexis Conran, actor, writer and TV presenter, best known as the co-host of the BBC Three Show, The Real Hustle.

Friday 11 January 07.00 Hrs Breakfast 08.50 Hrs Introduction and welcome by Jenny Condron, Chair 09.00 Hrs Plenary Session - UK and Global economic prospects as we approach Brexit Presentation by Stephen King, Senior Economic Adviser at HSBC Plenary Chair: Jenny Condron

09.50 Hrs Seminars—Series A Select one seminar to attend from Series A and mark the seminar number on your registration form. More details about each seminar can be found on the back pages of this programme. 1. “Please take a ticket number and sit patiently” - is insurance for pension schemes becoming a seller’s market? 2. The Pensions Regulator — future regulatory approach 3. Building trusting relationships with clients (how to become a trusted advisor) 4. Impact of DB transfers on scheme liquidity and investment strategy 5. Behavioural finance in DC 6. Opportunities of Open Pensions 7. Update on pensions tax 8. How will AI impact actuaries and the pensions industry?

10.50 Hrs Refreshment break

11.10 Hrs Seminars—Series B Select one seminar to attend from Series B and mark the seminar number on your registration form. 9. The Networking Mindset 10. DB White Paper — update 11. Economics of a buy-out 12. Actuarial Monitoring Scheme 13. Assessing employer covenant in the current environment 14. Are DB pension schemes a risk for UK plc — expectations and risks? 15. Themes in pensions disputes 16. CMI update — the new S3 tables and the latest on mortality projections 17. Pensions accounting — current issues update and auditor view 18. Delivering advice successfully in a liability management exercise

12.10 Hrs Refreshment break

12.20 Hrs Seminars—Series C Select one seminar to attend from Series C and mark the seminar number on your registration form. 19. Future proof your practice — how to drive innovation from inside your teams 20. Practical CDC 21. DB consolidation — UK solutions and the Netherlands’ lessons 22. The revised Actuaries’ Code 23. Employer covenant — practical application of IRM 24. Investment advice in today’s conditions 25. The PPF’s involvement with distressed schemes 26. How to cope with a market explosion — the view from the front line 27. What is different about DB funding in the not-for-profit sector and how should charities and pension scheme trustees respond to the challenges? 28. Funding Valuations — what is prudent and appropriate when considering member options?

13.20 Hrs Lunch

Afternoon programme continued over page ... 4

Main Conference Programme continued...

Friday 11 January, continued

14.30 Hrs Seminars—Series D Select one seminar to attend from Series D and mark the seminar number on your registration form. 29. Mindfulness for Consultants — with Tessa Watt 30. Commercial Consolidators for DB schemes 31. Actuaries’ Code in practice 32. Asset backed funding — latest developments and future role 33. General legal update 34. Approaching the end game 35. Self-sufficiency — to technical provisions and beyond! 36. Independent trustee view of the White Paper and the pensions landscape 37. Guidance at retirement 38. International pension trends

15.30 Hrs Refreshment break

15.45 Hrs Plenary Session—From Consultant to Regulator, a route less travelled ACA Chair, Jenny Condron, interviews David Fairs, Executive Director, Regulatory Policy, Analysis and Advice at the Pensions Regulator on topical issues and challenges facing sponsors, trustees, regulators and consultants. Including Q&A session open to Members.

16.25 Hrs Concluding remarks by Jenny Condron

Smaller Firms Seminar: Thursday 10 January Designed for Members who work in firms with five or fewer consulting actuaries

This seminar will be FREE to participants, so if you are eligible and wish to attend, you are urged to reserve a place by completing the appropriate part of the Conference registration form, as soon as possible. The seminar will be from 14.30 Hrs and will continue until around 17.30 Hrs. Places will be allocated on a first come, first served basis, although regard will be taken of the need to spread places across as many firms as possible. The session is also open to members who are not attending the main Conference. A programme will be circulated at a later date to those expressing an interest in attending the seminar.

Younger Members’ Group Seminar: Thursday 10 January Designed for Members who have typically less than 10 years’ post-qualification experience

International Seminar: Thursday 10 January Designed for Members who want to know more about international and international consulting issues/challenges

A programme will be circulated at a later date to those Members who indicate an interest in attending this extra seminar on the Conference Registration Form. This seminar will be FREE to participants.

Places will be limited and will be allocated on a first come, first served basis, although regard will be taken of the need to spread places across as many firms as possible. The seminar is also open to members who are not attending the main Conference.

The seminar is likely to run from 14.00 Hrs until around 17.30 Hrs.

CPD ACCREDITATION FOR THURSDAY SEMINARS: Member’s Discretion (Certificated)

Friday 11 January Seminar Summaries Series A Seminars (09.50 Hrs—10.50 Hrs)

A1. “Please take a ticket number and sit patiently” – is insurance for pension schemes becoming a seller’s market? Speakers: Michael Abramson (Hymans Robertson) & Chris DeMarco (Legal & General)

2018 is shaping up to be the busiest year the bulk annuity market has seen to date. With recent volumes of £10-15 billion per year and total DB buyout liabilities of £2.3 trillion, will demand exceed supply, and what can pension schemes looking to de-risk do to prepare for this scenario?

A2. The Pensions Regulator - future regulatory approach Speaker: Fiona Frobisher (The Pensions Regulator)

The government published its white paper on protecting DB pension schemes in March 2018. What has happened since then to design new powers for the regulator, develop guidelines for consolidators and to set a clearer framework for scheme funding? What is tPR already doing differently? What can we expect in future? Fiona Frobisher will talk about how tPR’s approach is changing and what we can expect to be different in the longer term.

A3. Building trusting relationships with clients (how to become a trusted advisor) Speaker: Chris Matthews (Sutherlands)

Building strong relationships with clients, to the point of becoming a ‘trusted advisor’, is not a “nice to have”. In today’s world, it’s a survival strategy. It’s not difficult; but it is hard work and requires you to excel in:

• Earning trust; • Building relationships; • Giving advice effectively.

Being the most professional technician will no longer suffice.

A4. Impact of DB transfers on scheme liquidity and investment strategy Speaker: Russell Chapman (Hymans Robertson)

Freedom and choice has led to an increase in transfer value activity for many pension schemes. This session covers an analysis of transfer value activity; its impact on the cashflow and liquidity needs within schemes; and thoughts as to how schemes’ strategies can be set to help manage and mitigate the risks to funding levels.

A5. Behavioural Finance in DC Speaker: TBC

What is the latest thinking on how we can help members achieve the best outcomes from their DC schemes, including designing smart defaults, encouraging member engagement, communicating better, simplifying options and using technology?

A6. Opportunities of Open Pensions Speaker: Matthew Burrell (Association of British Insurers)

The conversation regarding the pensions dashboard has been dominated thus far by the barriers facing it and how to overcome them. But with the construction of the underlying infrastructure on the horizon, as an industry we should be thinking about the opportunities that opening up pensions data will bring. From cheaper financial advice to dynamic engagement processes, open pensions could change the way that schemes communicate with their members and consumers engage with their long-term savings.

Series A Seminars, continued (09.50 Hrs—10.50 Hrs)

A7. Update on pensions tax Speaker: Member of the ACA Pensions Taxation Committee

As the conference brochure goes to press, we await an Autumn Budget from a government needing more fiscal income but with little room to manoeuvre on mainstream tax. Perhaps pension tax relief will be the target? The session, from one of the ACA Pensions Tax Committee, will consider the emerging pensions tax landscape if new; otherwise, will look at practical issues emerging on current major projects.

A8. How will AI impact actuaries and the pension industry? Speaker: Alex Waite (Lane Clark & Peacock)

Big data and Artificial Intelligence (AI) have already transformed many industries, and are starting to have a significant impact on professions, including legal and accountancy. We have “Robo Advice” designed to steer members towards better retirement outcomes – but how far could AI take over the work of actuaries? Alex Waite will provide insights from other professions, and facilitate a discussion about our possible future.

Series B Seminars (11.10 Hrs—12.10 Hrs)

B9. The Networking Mindset Speaker: Andy Lopata (Lopata)

Following on from his well-received session at the 2018 Gatwick Conference on networking skills, Andy Lopata will explore in 2019 the networking mindset. During a fun and interactive presentation, Andy will explore what you need to think about to get the most out of your networking. You won’t just learn from Andy’s presentation, you’ll network throughout, putting Andy’s suggestions into action.

Andy will focus on four key areas:

• Fear - How do you deal with the butterflies that nestle in your stomach just before you walk into that networking event? • Focus - If you know why you are there, what you can achieve and how networks operate then you'll find it so much more comfortable to network naturally. • Fun - Enjoy yourself and the trepidation disappears. Besides, many networking events are out of office hours so isn't it important to have fun while you're there? • Follow up - Andy will share some simple relationship-building techniques that will help you get to know people over the long-term, rather than just exchanging cards at the event.

B10. DB White Paper – update Speaker: Department for Work & Pensions

DWP will have finished their consultations on additional powers for the Regulator and on the likely legislative and regulatory framework for DB consolidation – so called superfunds. This session will provide an update on both these consultations and progress towards implementing the necessary legislative changes required.

B11. Economics of a buy-out Speaker: Jay Shah (Pension Insurance Corporation)

Jay Shah will take you through the key aspects that determine the cost of a buy-out. He will use case studies to illustrate actions taken by sponsors and trustees to plan for a buy-out and to improve affordability.

B12. Actuarial Monitoring Scheme Speaker: IFoA Regulatory Team

The IFoA has recently consulted upon proposals for the introduction of a scheme for monitoring the quality of actuarial work. The proposals for the Actuarial Monitoring Scheme included a range of activities from the direct review of work – for higher profile/public interest roles in the UK – to broader data gathering activities across the Membership internationally. It is intended that the scheme will draw together evidence about work within the actuarial community, allowing the IFoA to have a better understanding of what is going well in the profession and allow it to support employers and individuals, by sharing what is learned: producing a better service offering to Members in the future. This session will provide an update on progress to date. 7

Series B Seminars, continued (11.10 Hrs—12.10 Hrs)

B13. Assessing employer covenant in the current environment Speaker: Jacqui Woodward (XPS Transactions)

Trustees and Sponsors of defined benefit pension schemes are inevitably wary of the repercussions arising from recent high profile insolvencies, Brexit and the changing regulatory environment. This session focuses on how Trustees and Sponsors can work collaboratively to understand their key covenant risks and agree definitive actions in this time of uncertainty.

B14. Are DB pension schemes a risk for UK plc - expectations and risks? Speaker: Hiten Nandha (Capita)

Over the next 20 years, private sector DB pension schemes in the UK will pay-out increasing levels of benefits. How might we expect the finances of such schemes to evolve? What are the key balance sheet risks now, and how might they change? Assuming we can quantify these aspects, do DB schemes matter in relation to the size of the UK economy?

B15. Themes in pensions disputes Speaker: Ian Gordon (Gowling WLG)

Pension schemes continue to attract judicial attention, from the perennial consideration of cost-saving rule amendments to resolving employer v trustee disagreements over the extent of their powers. RPI-related litigation is on the increase, as are disputes involving the exercise of tPR's wide moral-hazard powers. Busy times ahead for advisers and their clients.

B16. CMI update – the new S3 tables and the latest on mortality projections Speakers: Matt Fletcher (CMI) & Tim Gordon (CMI)

The CMI will provide an update on:

• the SAPS “S3” Series mortality tables for pension schemes, which are expected to be finalised in late 2018;

• recent mortality in England & Wales and its implications for users of the CMI Mortality Projections Model; and

• expectations for the CMI_2018 Model, to be published in the first quarter of 2019.

B17. Pensions accounting – current issues update and auditor view Speakers: Andrew Mandley (Willis Towers Watson) & Naz Peralta (KPMG)

In an environment with increased regulatory and investor scrutiny on accounting for pensions in corporate accounts, this session looks to update on current topical and technical issues, as well as provide an auditor’s perspective on reporting for pensions and the expectations of the FRC.

B18. Delivering advice successfully in a liability management exercise Speaker: Craig Harrison (Creative Wealth Management)

It’s fair to say there’s a lot going on in the world of defined benefit transfers. Politicians and regulators alike are playing close attention to the market and a number of changes have been made which affect how advice is delivered. We will cover the regulators expectations, and how to deliver a successful liability management exercise.

8 Series C Seminars (12.20 Hrs—13.20 Hrs)

C19. Future proof your practice – how to drive innovation from inside your teams Speaker: Daniel Stane (Pluribus UK & Ireland)

Driving innovative thinking is critical for ACA members to stay future-proof and relevant to their clients as well as supporting highly productive working relationships with fellow employees and within teams. This session will focus on:

• Recognising the inherent diversity of thought present in each individual employee

• Nurturing a culture where people feel safe and willing to share their views

• The impact of an inclusive environment on creativity and competitive advantage

• The three key hallmarks that have enabled successful organisations to demonstrate their true commitment to inclusion in a sustainable way and leverage diversity of thought across their workforce

• New research on how leaders and teams can create a culture of psychological safety where employees feel more willing to step into the vulnerability and risk that often accompanies expressing their unique perspectives.

C20. Practical CDC Speaker: Hilary Salt (First Actuarial)

An insight into how CDC can boost member outcomes, covering legislative progress so far, design challenges in the real world, pitfalls to avoid based on international experience and how to communicate to members, including pensioners.

C21. DB consolidation - UK solutions and the Netherlands’ lessons Speakers: Graham Jones (Hymans Robertson) & Martin Potter (Hymans Robertson)

We will look at the developing DB consolidation market in the UK and the pros and cons of the solutions available. We will share lessons learned from the Netherlands' experience of pensions consolidation before considering the latest DWP and tPR positions and the potential implications of these.

C22. The revised Actuaries’ Code Speaker: IFoA Regulatory Team

This session will provide a summary of the revised Actuaries’ Code and other regulatory updates.

C23. Employer covenant – practical application of IRM Speakers: Guy Jackson (RSM Restructuring Advisory LLP) & Guy Mander (RSM Restructuring Advisory LLP)

The session will provide an insight into the way in which the approach to employer covenant reviews (and related advisor interaction) can be enhanced to incorporate IRM best practice and add value. The objective will be to provide a real-world example of practical change for better outcomes, rather than introducing more IRM theory. The session will also explore practical ideas to support ongoing monitoring of employer covenants.

C24. Investment advice in today’s conditions Speaker: Daniel Banks (River and Mercantile Solutions)

This talk will look at some current topics in investment such as the effect of Brexit and the CMA review, considering both how they could affect governance of investment strategies and the broader market impact. Please note given this is intended to be topical the actual subjects may change closer to the date.

C25. The PPF’s involvement with distressed schemes Speakers: Malcolm Weir (Pensions Protection Fund) & Sue Rivas (Pensions Protection Fund)

Malcolm Weir (Director, Restructuring and Insolvency) and Sue Rivas (Director, Scheme Services) set out the PPF’s role and how it engages with stressed schemes both before and after the start of a PPF assessment period.

9 Series C Seminars, continued (12.20 Hrs—13.20 Hrs)

C26. How to cope with a market explosion - the view from the front line Speaker: Ben Stone (PwC)

2018 saw bulk annuity transactions at nearly 3 times the level of any previous year. This session will look at why the market expanded, and the dynamics of how a pension scheme achieves the best insurance price and terms when the supply/demand balance has shifted so quickly. We will also consider new ideas in the way pension schemes should approach the insurance market and whether the positive pricing seen last year is here to stay.

C27. What is different about DB funding in the not-for-profit sector and how should charities and pension scheme trustees respond to these challenges? Speaker: Alistair Russell-Smith (Hymans Robertson)

Using benchmarking analysis of DB schemes in the charity sector, we’ll look at the funding positions, investment strategies and financial ability of charities to support their DB schemes. We’ll then consider how charities should fund their DB obligations, balancing regulatory steers to fund deficits quickly against the long term covenant support offered by many charities.

C28. Funding Valuations — what is prudent and appropriate when considering member options? Speaker: Debra Webb (Willis Towers Watson)

With the significant increase in transfer value activity in recent years, allowance in funding valuations for member options is once again in the spotlight. This session will consider whether and how such options can be taken into account, considering both realistic expectations and statutory and TPR requirements for prudence.

Series D Seminars (14.30 Hrs—15.30 Hrs)

D29. Mindfulness for Consultants – with Tessa Watt Speaker: Tessa Watt (Being Mindful)

Mindfulness is a training to be more present and aware in each moment. It helps to reduce stress, be more focused, and stay resilient under pressure – whether in difficult client meetings or giving a presentation. This session will introduce you to practical techniques you can use during your working day.

D30. Commercial Consolidators for DB schemes Speakers: Adam Saron (Clara Pensions) & Tim Coulson (Just)

In March the DWP issued its White Paper on ‘Protecting Defined Benefit Pension Schemes’ and this included proposals for Commercial Consolidators. This session will discuss what are the DB market drivers for commercial consolidators, and what are the various consolidation options. It will also consider what are the opportunities, challenges and risks for consolidation and how these differ to the existing consolidators of the PPF and Insurers.

D31. Actuaries’ Code in practice Speaker: Jane Curtis (Aon)

Using anonymised client case studies covering a wide range of professional issues Jane will bring to life the Actuaries’ Code in practice. Come prepared to participate in this interactive workshop.

D32. Asset backed funding - latest developments and future role Speaker: Eimear Kelly (PwC)

The talk will discuss the latest themes in the market for asset backed funding, the circumstances in which it continues to play a role in funding and securing pension liabilities and the future role for asset backed contributions in the light of the evolving pensions market and the new code of practice for funding pension schemes.

10 Series D Seminars, continued (14.30 Hrs—15.30 Hrs)

D33. General legal update Speaker: Nigel Cayless (Sackers)

A review of recent key legal and regulatory changes that impact pension fund investment and governance. The session will consider the implications of a number of consultations/regulatory changes and recent legal cases, as well as an overview of what to expect in 2019.

D34. Approaching the end game Speaker: Jonathan Camfield (Lane Clark & Peacock)

There are c6,000 DB pension schemes, and £1.5tr of UK pension liabilities, but for how long? Jonathan will present some thoughts on the longevity of the UK DB pension market, what market behaviours we might see as we enter the twilight zone, and what this might mean for the advice we give now.

D35. Self-sufficiency—to technical provisions and beyond! Speakers: Lara Edmonstone-West (River and Mercantile Solutions) & Emily Davies (River and Mercantile Solutions)

We’re proud our clients have been reaching full funding on Technical Provisions. One of the exciting discussions before this point is which secondary funding target is therefore most appropriate. Today, Lara and Emily will debate, and ask you, whether self-sufficiency or buyout is the right solution for an example pension scheme.

D36. Independent trustee view of the White Paper and the pensions landscape Speaker: Peter Askins (ITS)

Having spent over 30 years in government and the last 10 in the real world I have a unique perspective of the pensions landscape and will share my thoughts on current Legislation, Regulation, Governance and anything you might want to ask me, be it ancient or modern.

D37. Guidance at retirement Speaker: Nick Eade (Jardine Lloyd Thompson)

The options available to members at retirement are increasingly complex and they need help in deciding how to get the best out of their schemes. What guidance can we give to members and how can this be delivered in practice?

D38. International pension trends Speaker: Isabel Coles (MBW International)

In this session we will explore a selection of pension developments and trends from around the world. This will include a look at how pension scheme consolidation has progressed in Australia and the Netherlands, examples of “collective DC”–type schemes in other countries, and other topical issues still to be decided!

Organised by Conference Profile on behalf of the 11 Association of Consulting Actuaries Limited First Floor, 40 Gracechurch Street, London EC3V 0BT Tel: 020 3102 6761 Contact: Tracey Gleed at [email protected]