Pensions Conference 2025

09:45 - 10:00

Chair's Opening

10:00 - 10:25

Long-Term Value Beyond DC Costs

Value is a key topic in DC. Recent consultations from TPR and FCA are looking to move value assessments beyond just costs. This shift to a broader understanding of long-term value aims to improve retirement savings and outcomes. This session will delve into the elements that define ‘value’ in relation to investment and guide attendees to ensure their DC scheme offers it.

10:25 - 11:10

Navigating the DB Endgame

The latest Funding Code highlights the necessity for all DB schemes to define an endgame. Many pension schemes now find themselves in surplus on their solvency funding position or heading towards this, presenting trustees and sponsors with challenging decisions regarding their next steps. This table discussion exercise encourages you to examine a realistic scenario, helping you to understand both running-on and buying-out and the factors to consider as you navigate the scheme’s endgame process.

11:10 - 11:35

Morning Coffee Break

11:25 - 12:05

The New DB Funding Code

The new Funding Code came into effect for valuations on or after 22 September 2024. The Code represents a shift in the way DB pension schemes will run and key changes for trustees and sponsors to get to grips with. Aon experts will share insights from their initial experiences under the new regime. A panel will discuss how schemes are meeting the new requirements and lessons learned from funding investment and covenant to help the audience understand potential impacts on their own schemes

12:05 - 12:30

Tailoring Your Investment Strategy to Achieve Your Objectives

Better funding positions and a broader range of endgame options mean schemes are now contemplating their next steps. The Strategic Zone Framework is designed to help you fine-tune your investment strategy and monitoring approach to align with your objectives. This session will provide an overview of the Aon Framework, focusing on the “Protection Zone” (where maintaining a strong funding level is key, but a focus on de-risking rather “de-returning” is needed). Investment experts will discuss real-life examples and some key investment choices schemes are considering.

12:30 - 13:30

Lunch break

13:30 - 13:40

Chair's Update

A brief topical look at the other main areas of changes to pensions that we don’t have time for elsewhere on the agenda.

13:40 - 14:05

Investment Economics Outlook

With inflation decreasing, major central banks have started cutting interest rates. Governments face significant challenges due to large deficits and mounting debts, complicating efforts to boost economic growth. Geopolitics and climate change make the situation even more complex for investors. This session will explore what these trends mean for financial markets, highlight opportunities, and offer strategies to achieve portfolio targets, with insights from market experts.

14:05 - 14:15

Artificial Intelligence (AI) and Your Members

In the modern tech environment, AI-powered tools are gaining traction with pension scheme members. This session will explore the different types of information, guidance, and advice offered by AI tools like ChatGPT. Attendees will learn both the benefits and possible downsides to understand how AI can improve the member experience, while being mindful of potential issues.

14:15 - 14:30

Member Options and Support

Pension schemes have traditionally focused on funding and investments when setting their long-term strategy. There is now a growing emphasis on enhancing member experience and retirement options. Through real-life case studies, we’ll show how member experience has been optimised under two different strategies — with one aiming to run-on, and the other targeting full buy-out in the shorter term.

14:30 - 14:50

Afternoon Coffee Break

14:50 - 15:10

What’s New in Risk Settlement

This packed session will leave no stone unturned for those schemes considering buyout as their endgame, covering the latest developments in the risk settlement market for schemes large and small. Hearing from insurers and investment risk settlement specialists, case studies will bring these market trends to life.