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

09:00 – 09:05
Welcome & Opening Remarks


09:05 – 09:25
Presentation: The Long Term Global Economic Outlook
The future health of pensions will closely track the overall health of the global economy. Our speaker will chart long term economic trends and the level of certainty surrounding them.


09:25 – 10:15
Presentation and Panel Discussion: The Evolving Industry Landscape
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. An expert panel will then debate the implications for managing pensions across the industry, and the investment strategies likely to be of greatest prominence in delivering optimal member outcomes over the medium term.


10:15 – 10:35
Presentation: What is the New Normal for Gilt Yields?
The level of Gilt yields is vital for UK pension funds. If yields persist at stubbornly low levels, this will weigh heavily both on the value of pensions liabilities and on the ability to achieve required performance. Our speaker will discuss whether we have embarked on a long term trend of lower yields, and identify the optimal investment strategies and instruments in such an environment.

10:35 – 11:00
Coffee in the Sandringham Suite

11:00 – 11:45
Roundtable Discussions: Industry Challenges – What Can We Learn From Each Other?
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.


11:45 – 12:10
Presentation: The Coming Paradigm Shift
How the laws of economics and relationships between asset classes, as we know them, are being significantly overturned, with critical consequences for the future.


12:10 – 12:30
Presentation: Meeting the UK’s Long-Term Infrastructure Needs
The UK will need to make significant infrastructure investments to maintain its competitive position in the global economy, with pension plan investments playing a crucial role.

12:30 – 13:40
Lunch in the Brasserie Restaurant

13:40 – 14:20
Panel: Is the Equity Risk Premium Alive and Well?
It has long been an axiom of investment theory that equities will outperform bods and cash over time. If this theory holds good, then it is clearly of great value and comfort to all long-term investors. Historically investors have retained a strong domestic bias in their portfolios of real assets. The panel will examine whether the foundations of this theory have been shaken by a decade of anomalous investment behaviour since the financial markets crisis.


14:20 – 14:40
Presentation: How ESG Is Playing Out Across Fixed Income
Our speaker will present a number of case studies to illustrate the tangible impact that fixed income investors can have in both achieving ESG objectives and generating meaningful differences in investment outcomes.


14:40 – 15:20
Panel: How Can Policy and Regulation Support Better Pension Outcomes?
Speakers from the DWP, TPR and the FCA will discuss how they see their role in creating a strong and healthy pensions industry, the initiatives they are pursuing, and the challenges these present.


15:20 – 15:40
Presentation: The Long Term Outlook for Multi-Asset Credit
Our speaker will examine the opportunities presented to UK pension funds across the board from a long-term allocation to multi-asset credit, and how performance expectations should differ between LGPS, DB and DC funds?

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

16:05 – 16:25
Presentation: Private Markets
A discussion of the opportunities presented by investments in private markets, especially in illiquid assets, and whether they will play an increasing role in pension portfolios.


16:25 – 17:05
Panel: Endgames and New Games – What Happens At Retirement?
There is more going on in the post retirement space that at any other point in the pensions savings cycle. This is creating extraordinary opportunities for managers and consultants, coupled with critical outcomes for members. Many DB funds are de-risking and working towards a liability insurance endgame, while DC members have to wrestle with the whole issue of optimal decumulation strategies. Our expert panel will debate how best practice is evolving in the post-retirement space.


17:05 – 17:25
Presentation/Interview: TBA


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

09:00 – 09:05
Opening Remarks

09:05 – 09:45
Panel: Sustainable Investing Across UK Pensions
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
Interview: Practically Implementing ESG
Our speaker will explore how ESG strategies are being practically implemented in investment portfolios, and how to avoid slippage between the declared ESG strategy and the actual outcome.


10:05 – 10:40
Roundtable Discussions: Meeting the Pensions Promise
At the end of the day, for all the good governance, management excellence and outstanding investment strategies that pension funds may implement, the acid test for UK pensions will be whether the majority of future generations of UK workers will enjoy a decent wage in retirement. Delegates will compare notes on whether this is in sight at a societal level, and what still needs to be done to reach this goal.


10:40 – 11:05
Presentation: Will Emerging Markets Provide the Required Growth?
An analysis of the outlook for the emerging markets, and whether their asset growth will be strong enough to make a meaningful contribution to the performance of UK pension plans.

11:05 – 11:30
Coffee in the Sandringham Suite

11:30 – 12:00
Panel: Capitalising on Megatrends
A spotlight on the major trends, currently in sight or otherwise, that will shape the world over the next 30 years, and how UK pension plans will need to respond.


12:00 – 12:35
Panel: The View From the Upper House
A panel of Members of the House of Lords engaged in pensions issues will discuss their view of the challenges in UK pensions and what politicians can do to resolve them.


12:35 – 12:55
Interview: The Future Outlook
A leading industry figure will give a personal view of the funding, governance and investment priorities the UK pension funds will face over the next quarter century and how they can best confront them.


12:55 – 13:00
Closing Remarks

13:00
Lunch in the Sandringham Suite