Devils Advocates Panel – Morning Session
John Nestor, Member of the Independent Governance Committee, Prudential
Sarah Smart, Chair of the Audit Committee, The Pensions Regulator
Peter Wallach, Director of Pensions, Merseyside Pension Fund

08:30 – 09:00
Coffee and registration in the Sandringham Suite

09:00 – 09:05
Welcome & Opening remarks
John Harrison, Adviser, Border to Coast


09:05 – 09:35
Panel: The Evolving Industry Landscape
Magnus Spence, Managing Director – Global Distribution Solutions, Broadridge Financial Solutions
Jonathan Libre, Principal – EMEA Insights, Broadridge Financial Solutions
The received wisdom is that the DB sector is in decline, the DC sector is growing strongly, with the LGPS sector following a more stable trend. But what are the realities and what do they mean for pensions practitioners? Broadridge will present key data and analysis on the asset size, structure and evolution of the three main sectors of UK pensions – LGPS, DB and DC – and the flows between them, together with projections for the future. A panel of senior pensions and investment experts will debate the implications for managing pensions across the industry, and the investment strategies likely to be of greatest prominence in delivering optimal member outcomes.


09:35 – 09:55
Presentation: The Economic State of the World
Sponsored by T. Rowe Price


09:55 – 10:35
Roundtable Discussions: Industry Challenges – What Can We Learn From Each Other?
Facilitator: Jeff Houston, Head of Pensions, Local Government Association

Roundtable Moderators
Jeffrey Dong, Chief Finance Officer, Swansea Pension Fund
Martin Kellaway, Chair of the Board of Trustees, Chartered Management Institute
Nigel Keogh, Independent Adviser, Surrey Pension Fund
Claire McCormick, Board Trustee, Clydesdale & Yorkshire Bank Group
Anthony Parnell, Pension Investments Manager, Carmarthenshire County Council
Martine Trouard-Riolle, Chair of Trustees, E.ON Pension Scheme
John Wood, Chair of Trustees, ExxonMobil UK & Ireland Pension Scheme

In significant ways, the three main sectors of the UK pension industry have evolved independently, developing their own approaches to governance, investment strategy, consolidation and member engagement, among other key criteria. In this session, we will combine delegates from LGPS, DB and DC plans so that we can compare notes on the challenges we face, identify issues common to us all, discuss what’s working well in our respective fields and highlight areas of greater future cooperation.


10:35 – 10:55
Presentation: What Are the Global Bond Markets Telling Us About the Future?
Gary Kirk, Partner, TwentyFour Asset Management

10:55 – 11:20
Coffee in the Sandringham Suite

11:20 – 11:40
Presentation: Locking in Future Income
Sponsored by J.P. Morgan Asset Management


11:40 – 12:20
Panel: Retirement Solutions After the Pension Freedoms
Moderator: Henry Tapper, Founder & Editor, Pension PlayPen
The introduction of the pensions freedoms and associated legislation has sparked a revolution in how pension savers plan for retirement. Purchasing an annuity is no longer a requirement for workplace pensions. However, DC providers, almost without exception, are not offering decumulation solutions within their plan. Despite this, over £35 billion has been voluntarily transferred from DB into DC and other savings vehicles over a 12-month period. Meantime, many DB schemes themselves continue to pursue a de-risking solution, with buyout or superfund consolidation as the endgame. The panel will explore the range of retirement solutions across the industry and especially how investment strategies are evolving to meet them.


12:20 – 12:40
Presentation: How Multi-Asset Strategies Enhance Performance
Steven Bell, Managing Director, Chief Economist, BMO Global Asset Management


12:40 – 13:00
Interview: Intangible Assets and the Technology Megatrend
Daniel Nicholas, Client Portfolio Manager, Harris Associates

13:00 – 14:00
Lunch in the Brasserie Restaurant

Devils Advocates Panel – Afternoon Session
Chris Parrott, Head of Pensions, Heathrow Airport Holdings
Mark Thompson, Chief Investment Officer, HSBC Bank Pension Trust
Dawn Turner, Chief Executive Officer, Brunel Pension Partnership

14:00 – 14:20
Interview: The Global Equity Shortage
Interviewer: John Harrison (Chairman), Adviser, Border to Coast
Interviewee: Francois Bourdon, Global CIO, Fiera Capital


14:20 – 14:40
Presentation: Sustainable Investing in Global Fixed Income Portfolios
Sponsored by Wellington Management


14:40 – 15:20
Panel: How Can Policy and Regulation Support Better Pension Outcomes?
Moderator: Robert Laslett, Member of the Independent Governance Committee, Zurich Insurance
Panellist: Rob O’Carroll, Automatic Enrolment and NEST Policy Group, Department for Work and Pensions
David Fairs, Executive Director, Regulatory Policy, Analysis and Advice, The Pensions Regulator
Speakers from the DWP, TPR and the FCA will discuss how they see their role in creating a strong and healthy pensions industry.


15:20 – 15:40
Presentation/Interview TBC
Sponsored by PIMCO

15:40 – 16:05
Coffee in the Sandringham Suite

16:05 – 16:25
Presentation: A Great Win-Win – Social Housing
Stuart Fiertz, President, Cheyne Capital


16:25 – 17:05
Panel: The New Big Challenge – Member Engagement
Moderator: Sarah Smart, Chair of the Audit Committee, The Pensions Regulator
Panellists: Anna Bradley, Chair, Zurich IGC
Robert Branagh, Managing Director, London Pension Fund Authority
In the wake of the pension freedoms and with 10 million more Britons saving towards a pension as a result of auto-enrolment, engaging and communicating effectively with members has become a sine qua non for all providers. Key questions surround what members really want from their pensions, defining best practice in member engagement across LGPS, DB and DC sectors, and the consequences of greater member involvement for governance and investment strategies.


17:05 – 17:25
Presentation: How Technological Innovation is Transforming Pensions


17:25 – 17:30
Chairman’s Closing Remarks

17:30 – 19:00
Drinks in the Sandringham Suite


19:00 – 21:30
Dinner in the Library

Featured Address
Pensions Governance as the Key to the Future
Professor Gordon Clark
Director of the Smith School of Enterprise and the Environment
Oxford University

Devils Advocates Panel – Morning Session
Tony Filbin, Chairman, Capital Cranfield Trustees
Fraser Smart, Chief Executive Officer, British Airways Pensions

09:00 – 09:05
Opening Remarks

09:05 – 09:45
Panel: Sustainable Investing Across UK Pensions
Moderator: Dawn Turner, Chief Executive Officer, Brunel Pension Partnership

Panellists:
Michael Marshall, Director of Responsible Investment, LGPS Central
Peter Michaelis, Head of Sustainable Investment, Liontrust Asset Management
Mark Thompson, Chief Investment Officer, HSBC Bank Pension Trust
The panel will discuss the overriding importance of sustainable investing to LGPS, DB and DC plans alike, the challenges and benefits of implementation, and the consequences for social good, investment performance and member outcomes over time.


09:45 – 10:05
Presentation: Sustainable Investing in Global Equity Portfolios
Abbie Llewellyn-Waters, Fund Manager – Global Equities, Jupiter Asset Management


10:05 – 10:40
Roundtable Discussions: Value for Money In UK Pensions – Is There a Common Standard of Best Practice?

Roundtable Moderators
Anna Bradley, Chair, Zurich IGC
Anthony Fletcher, Independent Investment Adviser, Derbyshire Pension Fund
Kim Gubler, Chair, The Pensions Administration Standards Association
Jim Haynes, Chair of Trustees, J.P. Morgan Chase Pension Plans
Ola Owolabi, Head of Pensions, East Sussex County Council
Chris Parrott, Head of Pensions, Heathrow Airport Holdings
Henry Tapper, Founder & Editor, Pension Playpen
Bridget Uku, Group Manager – Treasury and Investments, London Borough of Ealing

Achieving value for money is central to achieving best outcomes for pension plan members. Delegates will compare notes on how they are approaching this vital issue across LGPS, DB and DC plans. The emphasis will be on what’s working in the different sectors and what delegates can learn from other approaches.


10:40 – 11:00
Interview: Emerging vs Developed Markets – The Story of the Next 30 Years
Interviewer: John Harrison, Adviser, Border to Coast
Interviewee: Yerlan Syzdykov, Global Head of Emerging Markets, Amundi Asset Management

11:00 – 11:25
Coffee in the Sandringham Suite

11:25 – 11:55
Panel: Listed vs Unlisted Infrastructure Strategies
Moderator: William Bourne, Principal, Linchpin Advisory
Traditionally investors have used LP (Limited Partnership) structures to invest in infrastructure. Investors receive regular income over a long period, which they can use to match long duration liabilities. In principle investors are locked into the vehicle until it matures. More recently, a range of listed specialist investment trusts have grown which invest in similar assets. Compared with LPs, investors gain instant exposure to the assets and at least in theory have more liquidity. The panel will debate the pros and cons of these two approaches to infrastructure investing.


11:55 – 12:15
Presentation: Meeting the Pensions Promise
A well-known industry figure will make the case for how to achieve a healthy pension system in the UK by the year 2050, stimulating a discussion throughout the room on this overarching issue.
Interviewer: John Harrison, Adviser, Border to Coast
Interviewee: Bill Galvin, Chief Executive Officer, Universities Superannuation Scheme


12:15 – 12:55
Panel: The View From the Upper House
Moderator: Laurie Edmans, Chair, Reach PLC Pension Plan
Panellist: Baroness Drake, House of Lords, Lord Hodgson, House of Lords
A panel of Members of the House of Lords highly engaged in pensions issues will discuss their view of the challenges in UK pensions and what politicians can do to resolve them.


12:55 – 13:00
Closing Remarks

13:00
Lunch in the Sandringham Suite with the Lords & Ladies