Pensions Management Institute members may claim Continuing Professional Development credits for attending this event

Impact of the economic downturn on pension funds

Dr David McCarthy of Imperial College Business School

Dr David McCarthy will discuss:

• The impact of the crisis in the financial markets on pension fund investments

• The future outlook

• How schemes can lock in investment gains and protect against downside
  

New developments in de-risking

Bruce Rigby, Mercer's chief retirement strategist

Bruce Rigby will look at what strategic approaches schemes are adopting in the UK, as well as giving a perspective on what’s happening in other parts of the world and may be coming to the UK.

What trustees and sponsors can do to be ready to exploit opportunities

Rosemary Kennell, Capita Fiduciary and Chair of trustees of the Emap Earnings Related Pension Plan

Clare Hoxey, partner, Clifford Chance

Crispin Lace, Mercer

David Ellis, Mercer

The panel of experts will discuss issues such as:

• Setting objectives – agreed by both the trustees and the sponsor

• Putting the right trustee board/investment sub-committee structure and governance processes in place

• Making sure that member data and legal documents are in order

• The use of delegated decision making

 Alternative de-risking strategies – longevity swaps

Andrew Reid, director, Credit Suisse

Gordon Fletcher, Mercer

Andrew Reid and Gordon Fletcher will debate:

• How a longevity swap works

• The security of providers

• The pros and cons – is it a short-term fix or a long-term solution?

Buyouts: the latest developments

David Ellis, Mercer

David Ellis will provide an update on what’s happening in the risk transfer market. While many schemes have looked at buyout and done it, others have rejected it or opted for something different: David will explore whether buyout (or buy-in) is still a valid option.

 Dynamic de-risking – a new approach to managing the “end game”

Bruce Rigby, Mercer

Rupert Brindley, Mercer

Tom Murphy, Mercer

Alan Baker, Mercer

Bruce Rigby, Rupert Brindley, Tom Murphy and Alan Baker will explain how the new concept of “dynamic de-risking” works through the establishment of clear funding objectives and the use of delegated integrated asset and liability management to lock in upside gains and provide downside protection. They will discuss whether it is the great panacea and whether it will work for all schemes, or just large ones.

Panel Q&A session

Kerrigan Procter, head of Solutions Group, Legal & General Investment Management

Charles Goddard, managing director, PAN Trustees

Kevin McLaughlin, Mercer

Rupert Brindley, Mercer

Mercer's Kevin McLaughlin and Rupert Brindley will be joined by Kerrigan Procter, Legal & General Investment Management, and Charles Goddard, Pan Trustees to answer questions posed by the audiences from locations across the UK.