Morning Sessions

Devil’s Advocates Panel – Morning Sessions
 
Daniela Silcock, Head of Policy Research, Pensions Policy Institute

 

08:15 – 09:00
Registration & Networking Breakfast


09:00 – 09:05
Welcome and Opening Remarks

Chair
Louise Farrand
Chair
DC Strategic Summit


09:05 – 09:25
Presentation: The Pensions Regulator sets out its priorities for 2022/23
From consolidation to climate change, Louise Davey, Head of Policy, the Pensions Regulator, explains what’s on TPR’s agenda.

Speaker
Louise Davey
Head of Policy
The Pensions Regulator


09:25 – 09:45
Presentation: DC Pensions: addressing the cost of living challenge in an inflationary environment
We will assess the impact of higher inflation on the cost of living for pensioners, based on the PLSA Retirement Living Standards, which Allspring Global Investments supports. We quantify the impact on required pot size at retirement and how to balance the hunt for positive returns after inflation with the risk of depletion. We show how a diversified Climate Focused Multi-Asset drawdown solution has a key role to play in providing benefit security and dive deeper into the management of such drawdown solutions for DC pension schemes.

Speakers
Eddie Cheng
Head of International Portfolio Management, Systematic Edge
Allspring Global Investments

Martijn de Vree
Head of International Solutions, Systematic Edge
Allspring Global Investments


09:45- 10:05
Interview: How to achieve net zero

Speaker
Nathalie Wallace
Global Head of Sustainable Investing
Natixis Investment Managers


10:05 – 10:25
Discussion: Managing an active investment strategy to a Paris Aligned Benchmark
Louise Farrand and Kieran Murray will discuss the challenges and opportunities of managing active equity portfolios to a climate benchmark as part of the acceleration towards a net zero future.

Speaker
Kieran Murray
Senior ESG Analyst
Baillie Gifford & Co


10:25 – 11:05
Roundtable Discussions: The Communications Game
Join Quietroom to play a problem-solving engagement game. You will come away from this session enthused, inspired and equipped with some new ideas on how to have better conversations with members.

Facilitators
Joe Craig
Development Lead
Quietroom

Vincent Franklin
Co-founder
Quietroom

Caroline Hopper
Lead Consultant
Quietroom

 

11:05 – 11:30
Coffee Break

 

11:30 – 11:50
Presentation: Separating greenwashing from reality
Asset managers are making bold claims about their ESG work, and some of them do not stand up to scrutiny. How can trustees separate the investment managers who are working to support the green transition from the ones who are paying lip service? And what are regulators doing to crack down on greenwashing?

Speaker
Jess Foulds
Global Responsible Investment Senior Manager
Aviva Investors


11:50 – 12:30
Panel: The rising cost of living: What does it mean for pension schemes?
All signs from the Bank of England point to the fact that we are moving into a period of higher inflation. Meanwhile, energy prices are rising sharply. What do these economic shifts mean for pension schemes? How can they act to defend default funds from inflation? And what will the implications be for scheme members: will schemes see more opt-outs as the impact of higher interest rates, combined with sharply rising utility bills, hit consumers’ pockets, and is there anything schemes can do to mitigate this risk?

Speakers
Terry Alleyne
Trustee
Citibanks UK Pension Schemes

Darren Philp
Director of Policy and Market Engagement
Smart Pension

Karen Quinn
Director
Untamed Marketing


12:30 – 13:15
Panel: Why should DC pension schemes be considering private credit now?
In the current low yielding macroeconomic environment, DC scheme investors are looking into new areas. Meanwhile, a recent government consultation has encouraged DC schemes to consider adding illiquid asset classes to their portfolios. Is now the time to consider private credit?

In this session, we will bring to life the most interesting opportunities in the private credit universe, explain private credit’s risk/return profile, and discuss how the asset class could sit within DC portfolios. We will also explore the operational challenges associated with investing in private credit, and how these can be overcome.

Speakers
Nicole Downer
Managing Partner and Head of Investor Solutions
MV Credit

Hugo Gravell
Investment Consultant
Barnett Waddingham

David Hutchins
Senior Vice President and Head of AB’s Multi-Asset Solutions Business in EMEA
AllianceBernstein

Torben Ronberg
Portfolio Manager
Muzinich & Co.

13:15 – 14:10
Lunch

Afternoon Sessions

Devil’s Advocates Panel – Afternoon Sessions
 
Sophia Singleton, Partner, XPS Pensions Group
Stacy Standen, Pensions and Compensation Manager, SUEZ Recycling and Recovery
Matthew Webb, Head of Benefits and Pensions, London Stock Exchange Group

 

14:10 – 14:50
Roundtable Discussions: The challenges of decumulation
Schemes continue to grapple with getting decumulation right. All eyes are on master trusts, which will play a pivotal role in many people’s retirements. How are they approaching decumulation? What are some of the solutions they are embracing? From CDC to pooled annuity funds, master trusts discuss their ideas.

Introduction by
Daniela Silcock
Head of Policy Research
Pensions Policy Institute


14:50 – 15:20
Presentation: A preview of a potential pensions dashboard
In a year’s time, the first cohort of Master Trusts will have connected to the dashboards ecosystem, enabling scale live testing, prior to public launch at a later date (as yet undefined). In an interactive session, Richard will show what a potential initial dashboard might look like, bringing into sharp focus the practical issues schemes must overcome, and demonstrating the benefits dashboards could bring for pension members and customers.

Speaker
Richard Smith
Independent Consultant (and also Dashboards Consultant at Moneyhub, ITM and the PLSA)


15:20 – 16:00
Panel: Levelling up
The government’s policy of levelling up is proving divisive among pension schemes, with one industry figure describing it as “the creeping appropriation of pension scheme money by government”. When is it appropriate for pension schemes to invest in assets which will support the levelling up agenda, and when isn’t it? Is there is a risk that levelling up will create an investment bubble?

Speakers
Des Healy
Head of DC Policy
Department for Work and Pensions

Amanda Latham
Chair of the Stewardship Workstream of the Investment Consultants Sustainability Working Group and Associate and Policy & Strategy Lead
Barnett Waddingham

Andrew Warwick-Thompson
Professional Trustee
Capital Cranfield

 

16:00 – 16:20
Coffee Break

 

16:20 – 16:50
Panel: The implications of Russia’s invasion of Ukraine for pension schemes
Russia’s invasion of the Ukraine has wide-ranging implications for pension schemes. We explore some in this panel session.

  • The invasion has prompted much of the Western world to vow to move away from a dependency on Russian oil. Will the situation accelerate the move towards renewable energy? What are institutional investors doing to build momentum in this area?
  • UK pension schemes have sought to divest their Russian holdings. How easy has it been to identify holdings with Russian exposure? Are pension providers keeping savers informed?
  • The Russian invasion has shown how quickly the world can change, and volatility can emerge for pension schemes. What other areas of geopolitical risk are schemes monitoring closely? What steps can schemes take to stay a step ahead in terms of risk management?

Speaker
Brendan McLean
Head of Manager Research
Spence and Partners


16:50 – 17:10
Fireside chat: Will DC pensions provide enough for future generations of savers?
Now doesn’t feel like the right time for government and industry to look at increasing contribution rates – but if not now, do we risk dooming future generations to pensions penury? If not contributions, what other levers are there for improving savers’ retirement outcomes? In this fireside chat, Adrian Boulding and Louise Farrand discuss the possibilities of collective defined contribution (CDC). Could CDC be what’s missing in UK DC pensions today?

Speaker
Adrian Boulding
Member of the RSA CDC Forum


17:10 – 17:25
Devil’s Advocate Summary


17:25 – 17:30
Closing Remarks

Chair
Louise Farrand
Chair
DC Strategic Summit

 

17:30 – 18:30
Drinks Reception in the Palm Court


18:30
Dinner at Fishworks restaurant in Covent Garden