Risk Moment RES

Registration and Refreshments

Welcome Opening Remarks from FT Business and the Chair

THE GOVERNMENT’S POSITION

Current and future pension reform

Interview by: Lionel Barber, Editor, Financial Times

THE POLICY MAKERS’ PERSPECTIVE

Moderator:
Pádraig Floyd, Editor, Pensions Management

Panellists:
Chris Grayling, MP, Shadow Secretary of State for Work & Pensions, Conservative Party

Danny Alexander, Shadow Secretary of State for Work and Pensions, Liberal Democrats

Kay Carberry, Assistant General Secretary, TUC

Bob Crow, General Secretary, RMT

Refreshment Break

CEO PANEL DISCUSSION

Large, Small and Medium-sized Company CEOs addressing the impact of pensions on corporate activity

• Does a company pension scheme impact on the decision making of a CEO?
• Balancing corporate strategy with Employee Company Benefits
• Obstacles of a company pension scheme for M&A and corporate activity
• Dealing with a corporate legacy
• Pension planning in overall reward structures – The future

Moderator: Richard Gillingwater, Dean, Cass Business School

Panellists:Dr Ian Roxburgh, Chief Executive, Nuclear Decommissioning Authority

Edmund Truell, Chief Executive Officer, Pension Insurance Corporation

Partha Dasgapta, Chief Executive, The Pension Protection Fund

Ross Dunlop, Former Executive Chairman, Highway Insurance Holdings Plc

Robert Kelly, Chief Executive Officer, The Bank of New York Mellon Corporation

BUILDING THE RELATIONSHIP BETWEEN THE COMPANY, THE TRUSTEES AND THE UNIONS

• Creating the environment for partnership between the Company, the Trustees and the Unions (or does covenant driven investing and partnership with Trustees help or hinder?)
• Scheme Funding - Managing DB liabilities and deficit funding
• Incentivised/ Enhanced Transfers – Added value or operational/ reputational risk generator? A CFO’s view

Moderator:
Charles Tilley, Chief Executive, CIMA

Panellists:
Kay Carberry, Assistant General Secretary, TUC

Jeremy Stone, Chairman of the Trustees, WH Smith Pension Scheme

David Blackwood, Former Treasurer, ICI

Walking the Pensions Tightrope - Balancing Protection for Employers with Security for Members

There’s still enormous value in pension plans, both from an employees’ perspective and from an employers’. But how can a plan be run so that it provides security for the employee without jeopardising the financial safety of the sponsoring employer? In this session, Steven will consider:

• Liability management - how do employers stop their pension plan from adversely affecting the balance sheet and P&L?
• Ensuring pensions get a fair deal in corporate transactions - how do plan sponsors balance the often conflicting needs of the needs and desires of the members, trustees, Regulator and shareholders?
• Plan design for the future - how can employers ensure they have a plan that supports their business objectives going forward, as well as meeting the retirement needs of the members?

Steven Dicker, Senior Consultant, Corporate Advice, Watson Wyatt

Lunch

AFTERNOON KEYNOTE

• Role of the Pensions Regulator in M&A activity – The voluntary clearance process

June Mulroy, Executive Director, Business Delivery, The Pensions Regulator

INVESTMENT STRATEGY

In an increasingly liability-driven world, is there a place for both traditional benchmarked and absolute return orientated investment management?

• Are these approaches really that different?
• Impact of recent developments in derivative markets and European investment fund regulations
• To what extent should the benchmark define the investment universe?
• Currency risk – friend or foe?
• Investing in a rising yield environment

Bruno Crastes, CEO and CIO, Credit Agricole Asset Management London Branch

Allocating to Alternatives

• Definition of alternatives
• Modelling issues in the alternatives space
• How to construct an alternatives portfolio
• Implementation challenges in creating an alternatives portfolio

Petr Kocourek, Executive Director, Portfolio Manager - Asset Allocation Team, Morgan Stanley

The Benefits of Incorporating and Implementing Alternatives within a Pension Scheme

Moderator:
Richard Lockwood, Executive Director, Head of UK Pensions, Morgan Stanley

Panellists:
Petr Kocourek, Executive Director, Portfolio Manager - Asset Allocation Team, Morgan Stanley

Gill Wadsworth, Editor, Pensions Week

Penny Green, Chief Executive, SAUL

Refreshment Break

Personal Accounts: 8m new pensions savers?

• The challenges for delivery in 2012: administration, asset management and member communications
• The employer’s reaction to Personal Accounts: join the national scheme or offer something better?

Moderator:
Debbie Harrison, Freelance Journalist and Senior Visiting Fellow, The Pensions Institute

Panellists:
Steve Folkard, Chair, British Insurers Pensions Savings Strategy Committee

Nigel Peaple, Director of Policy, NAPF

Mick McAteer, Independent Consumer Advocate

Communication and delivery of DC

• They’ll only appreciate it if they understand it.’ How do we get reluctant investors to engage with DC investment decisions?
• What is the role of the employer, trustee, asset manager and provider in communicating DC and how is this restricted by regulation?
• The future of DC - Is the existing structure fit for purpose?

Moderator:
Alistair Byrne, Fellow of The Pensions Institute

Panellists:
Chris Dobson, Pensions Commission Secretariat, DWP

Tony Osborn-Barker, Head of Pensions, BNP Paribas

Mark Ashworth, President, SPC

ADMINISTRATION

• Greater focus on DC Scheme administration – Raising the standards of pension scheme administration
• Maladministration – What does it mean? What are the cost and other consequences of it?
• Risk management and internal controls
• Governance of DC schemes – Quality of service
• The role of the administrator in member education and guidance
• Performance management – Getting the most from your administration provider
• Off-shore services for administration – What is acceptable and why

Panellists:
Malcolm McLean, Chief Executive, The Pensions Advisory Service

John Reeve, Chair, Raising Standards in Pensions Administration

June Mulroy, Executive Director, Business Delivery, The Pensions Regulator

Closing Remarks

Mark Ashworth, President, SPC