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Pensions Conference 2020

18-19 June 2020

About this event

Due to COVID-19, we are running this programme via a series of webinars commencing 16 June.

Please use the 'schedule tab' to view and book webinars.

Focussing on topics including funding and savings, pension law current issues, ESG, the end game and transferring risk, investment issues, data visualisation and data science. Expect a great line-up of speakers and a wide range of thought-provoking topics. 

The IFoA’s policy regarding Coronavirus is designed to safeguard the well being of those who attend IFoA events. Find out more. 

 

Webinar speakers include

John Breedon, Fellow of the Institute of Actuaries

With over twenty five years of experience, John has held senior roles at a number of consulting firms, working as a Scheme Actuary, a corporate actuary and latterly within Investment Consulting providing risk advice. John has led a corporate consulting business as well as leading two investment consulting businesses. John is Head of Strategic, Asset and Risk Solutions at Buck. John holds a BSc in Mathematics, an MSc in Pure Mathematics (both from Sheffield University) and an MBA from the Open University.

Catherine Donnelly, Heriot Watt University

After Catherine's undergraduate degree at the University of Cambridge, she worked for several years in the pensions industry in the U.K. in both pensions and investment consultancy roles.

Catherine returned to university to do a Masters degree at the University of Oxford, followed by a PhD at the University Of Waterloo, Canada. After a couple of years as a postdoctoral researcher at RiskLab, ETH Zurich, Switzerland, Catherine took up a lecturing position at Heriot-Watt in 2011.

David Gordon, Senior Review Actuary at the IFoA heading up the Actuarial Review Team

David joined the IFoA at the start of 2020 with over 30 years’ experience in the pensions industry.  He has worked with Willis Towers Watson throughout his career advising numerous UK pension schemes and their sponsors on how best to deliver funding, investment and risk management.  Alongside client work, David provided guidance to colleagues worldwide on best practice and professional issues.  He was Willis Towers Watson's Senior Quality Assurance Representative under the IFoA's Quality Assurance Scheme.  David was voted the Actuarial Post's Pensions Actuary of the Year 2016.

Tim Jiblonski, Product Director, EValue

Tim is currently Product Director at EValue, having joined in 2010 as Consultant Actuary.  Since then, Tim has worked with some of the UK's largest financial services companies, as well as start-ups, to help them deliver personal and engaging digital advice and guidance.  He is currently responsible for the specification and prioritisation of new and existing propositions at EValue, as well as providing key actuarial oversight across the organisation.

Tim chairs the “Drawdown Strategies, Modelling Tools and Consumer Communications” Working Party for the Institute and Faculty of Actuaries.

Judith Joy, Regulatory Lawyer in the General Counsel directorate of the IFoA.

Judith is responsible for drafting and maintaining standards, guidance and other material with the purpose of regulating the profession in the public interest. She currently manages the review of the CPD Scheme, the regulatory working party considering CDC Pension Schemes, and the IFoA’s Designated Professional Body Regime.

Lisa McCrory, Chief Finance Officer at the Pension Protection Fund (PPF)

Lisa McCrory was appointed as Chief Finance Officer at the PPF in February 2020. She joined the PPF in March 2009, and has been the Pension Protection Fund’s Chief Actuary since September 2018. Before this, she was Head of the Actuarial Financial Management Team.

She is responsible for providing actuarial advice to the Board on the PPF’s Funding Strategy, making sure that any assumptions we make are appropriate and consistent, and for signing the annual valuation of the fund for the Annual Report and Accounts.

Mark Williams, Principal & London Retirement Practice Leader, Buck

Mark is Principal and London Practice Leader Buck, having previously worked at WTW and PWC. He is a Scheme Actuary and senior corporate adviser, advising on matters such as scheme funding, member options and legislative change. 

Mark is also Chair of the Pensions Board at the Institute and Faculty of Actuaries and represents the I&FoA on the industry GMP Equalisation Working Group (endorsed by PASA and TPR). He pioneered the IFoA’s “Savings Goals for Retirement” initiative to enhance adequacy of DC schemes. 

Mark has written articles and been quoted in a range of publications, including Professional Pensions, Pensions Expert, Pensions Age, FT Adviser and the Daily Express.

 

Workshop Tue, 16/06/2020 - 09:00 - 10:00 Webinar: GMP Equalisation 

GMP Equalisation 

The talk will cover:

  • Technical details of GMP equalisation methods
  • Practical and administrative considerations
  • Communications considerations
  • Pragmatism, efficiency and materiality
  • Once the project is done, what next?

Speaker: Mark Williams, Principal & London Retirement Practice Leader, Buck

Workshop Tue, 16/06/2020 - 12:00 - 13:00 Webinar: AMS Thematic Review Programme & changes to the CPD Scheme

AMS Thematic Review Programme & changes to the CPD Scheme

Judith Joy, Regulatory Lawyer at the IFoA, will provide an update on changes to the CPD Scheme, following the consultation that closed in April. David Gordon, Senior Review Actuary at the IFoA, will give an update on the newly launched Thematic Review Programme and in particular the first review covering pensions: “Actuarial factors used to calculate member benefits”.

Speakers: Judith Joy and David Gordon,  IFoA

Workshop Tue, 30/06/2020 - 09:00 - 10:00 Webinar: Public Service Pensions – Good Pensions that last

Public Service Pensions – Good Pensions that last

The case for long-term structural reform of public service pension schemes was clear. A reformed pension system would need to be good quality, sustainable and fair. Fundamental changes were made such as futureproofing the retirement age, introducing career average and a mechanism to control costs. As DB schemes in the private sector are consumed by an endgame, the perpetuality of pensions for public service workers means that they almost stand alone as the last bastion of DB pension saving. But will the last round of reform last for a generation? Or have we barely scraped through a five-year guarantee?

Speakers: Dale Walmsley, First Actuarial LLP and Stephen Humphrey, Government Actuary’s Department

Workshop Tue, 30/06/2020 - 12:00 - 13:00 Webinar: Decumulation in pension plans: Income drawdown and pooled annuities

Decumulation in pension plans: Income drawdown and pooled annuities

Converting lifetime savings into a lifelong income are a fundamental part of pensions. Yet this is often not part of DC pension plans.

As Chair of the IFoA's Working Party on Drawdown Strategies, Modelling Tools and Consumer Communications, Tim will explain why, for income drawdown, we need new investment vehicles, new modelling tools and better communication for consumers!

Catherine will share her latest research on how offering a post-retirement, pooled annuity option, perhaps structured as a Collective Defined Contribution (CDC) plan, to retirees might help deliver a lifelong income to retirees.  Pooled annuities convert lump-sum savings to a life annuity by collectively pooling longevity risk.  They may be a more cost-effective, flexible, in-house solution than buying insured annuities.

Speakers: Tim Jablonski, EValue and Catherine Donnelly, Heriot Watt University

Workshop Thu, 02/07/2020 - 09:00 - 10:00 Webinar: Integrated Risk Management-Pensions Risky Business

Integrated Risk Management: Pensions Risky Business

Areas to be covered:

  • What is risk?
  • Commonly used risk measures, their benefits, their drawbacks
  • Which Urn? (social experiment I)
  • A multitude of risks (consider from the bottom up)
  • Swans, Turkeys and Frogs
  • Key strategic risks and IRM (and from the top down)
  • Which Door? (social experiment II)
  • Risk thermostats (some general risk theory)
  • Making sense of it all (some considerations)
  • Group discussion (your thoughts)

Speaker: John Breedon, Buck

Workshop Thu, 09/07/2020 - 09:00 - 10:00 Webinar: Longevity – CMI update

Longevity – CMI update

An update from the CMI. The update will:

  • Cover the most up-to-date and relevant outputs from the CMI SAPS and Mortality Projections Committees (likely to include CMI_2019 and other research that is released in the first half of 2020);
  • be aimed at users of these outputs;

Delegates do not require specialist technical knowledge, although a working knowledge of CMI outputs (e.g. the CMI Mortality Projections Model and "S3" Series tables) would be useful.

Speakers: Cobus Daneel, Chair of the Mortality Projections Committee.

Workshop Thu, 09/07/2020 - 13:00 - 14:00 Webinar: The state of the PPF Universe

The state of the PPF Universe

The PPF’s Purple Book provides the most comprehensive data on the UK universe of Defined Benefit (DB) pension schemes in the private sector.  Analysing how this landscape has changed over time shows that whilst the risk profile of DB schemes has reduced underfunding has persisted.  The session will explore these trends and provide an insight into how funding may evolve in the future under a number of our modelled scenarios.  

Speaker: Lisa McCrory, PPF

 

Copies of the presentation slides will be added to this section as and when they are sent in by speakers, so please keep coming back to check for the presentations you need.