Aon’s Pension Conference Series 2019

Trustees and sponsors are continuously having to evolve and adapt to the latest governance needs within the Pensions industry. With more and more guidance and regulation being introduced there is a great deal being asked of these individuals and it can be hard to know where to start.

This session looks at the tips and techniques developed by Aon following the behavioural research carried out by Aon into group decision making. We will focus on useful tips and techniques to help Trustees make robust decisions and also manage trustee meetings more effectively. There will be the opportunity to try out some of these decision making techniques in your table discussions throughout the day.

The long period of strong and stable markets is seemingly coming to an end as the investment environment transitions into much more dangerous and murky waters. This session will take you through our latest outlook on the key asset classes and our recommendations for portfolio positioning. We will also provide our updated views on recent political developments. We might even mention Brexit!

Is it time for trustees and others running pensions to consider the wider financial wellbeing of members?

Aon’s recent research shows that the general financial situation of individuals has a significant bearing on, not just their capacity to save for retirement, but also on their expectations towards pension provision and the types of support needed.

When considering this, along with the discovery that we also found the majority of DC members intend to continue working after their ‘retirement date’, which means many current employees will also be pensioners, has the duty of care to provide retirement benefits changed?

If so what do trustees and sponsors need to do about it?

Slowly but surely schemes have whittled away their deficits. For many schemes, full funding, at least on a Technical Provisions measure, is now becoming a reality.

As schemes reach that position, the challenges don’t disappear, but change. Focus switches from filling the deficit to what happens next. And for many schemes that is not only unchartered territory but something that they have not planned for.

In this session we will explore three topics:

1. What are the immediate issues when you reach full funding?
   How does your approach to funding, investment and covenant change?
2. Where are you heading next? For many schemes buyout has always been the assumed destination, but new opportunities such as commercial consolidators and master trusts are changing the game.
3. How do you bridge that gap? There are a range of tools that Sponsors and Trustees can use to turn an apparently large gap into one that is financially affordable.

Chair’s update on topical issues at the time of the conference.

Actively managing your pension scheme has become increasingly important; be that the managers you use, your asset allocation, risk management or fee negotiations.

In the current environment, taking no action without due consideration (which is an active decision in itself) is not an option.

In this session we will draw upon a number of client case studies demonstrating how we have helped clients to be active and add value to their scheme. You will hear from the clients themselves as they share their views on the solutions implemented, the performance and outcomes.

After almost 30 years of legal uncertainty the Lloyds case has given schemes a way forward to start tackling the historically thorny issue of GMP Equalisation.

In this session one of the expert witnesses in the case will dispel some of the myths surrounding the topic and help you prioritise actions.

Cyber-attacks are hitting some of the largest companies out there and barely a day goes by without this being mentioned in the press. How would you feel if your sponsor was in the headlines due to an attack on your pension scheme? As a trustee, do you know how you would tackle a crisis situation?

In this interactive session, you can get to grips first-hand with the consequences of a cyber-attack. We will highlight some of the key actions that trustees and sponsors should be taking in relation to this risk and promise to leave you with plenty to think about.