Over the last 12 months a number of solutions have become available which offer
the prospect of better managing pensions risk and getting more bang for your
buck. But many of these new players or ideas are largely untested. Before going
for one solution remember the words of Forrest Gump: "Life is like a box
of chocolates. You never know what you're gonna get." Our series of
teleconferences chaired by Kevin Wesbroom will allow employers and trustee
boards to get a taste for all the sweet solutions on offer and then pick ‘n’
mix the solutions that are right for them."
22 April 2008 - Antony Hayes/David Passey—This session describes the current
state of play in the bulk annuity market, discussing the providers, current
pricing and the pros and cons of buy-out and buy-in solutions.
Bulk Annuity Policies
29 April 2008 - Martin Bird/Lynda Whitney—This session is an introduction to the
new market in longveity risk products, explaining how they work and some of the
key issues to consider before purchasing one. We also cover solutions available
for dealing with sponsor covenant risk, outlining how some of the new solutions
can and have been used in practice.
Should you be driving without insurance?
6 May 2008 - Alan Howard/John McEnery—An overview of various techniques that can
be used to help sponsors and trustees mangage the liability risk in pension
schemes. The session considers the different benefit designs that can be
adopted for future service benefits and examines recent trends that have been
seen in the UK. However, future benefit accrual is only part of the issue and
the session also looked at ways of managing liabilities that have already
accrued, with a particular focus on Enhanced Transfer Value exercises and how
to minimise the associated risks.
Tackling your liabilities head on
22 May - Sion Cole/Neil Smith—This session covered how Trustees can work with
their investment consultant under different service models. The main focus was
around working under a service model that suits the governance structure of the
Trustee board. We looked at 3 broad service models, traditional consulting,
directive consulting and delegated consulting. The session described the
Trustee governance structure required under each model and the advantages and
disadvantages of each model.
Making your money work harder and better (1)
29 May - Bobby Riddaway/Paul Richmond—This session covers the definition of
Liability Driven Investment, the increasing use of derivatives and why these
are favoured over bonds, and the implications for risk of adopting a Liability
Driven Investment strategy.
Making your money work harder and better (2)
6 June - David Bush/Andy Corvesor—There are a plethora of techniques and
solutions that are available to help manage the risk associated with DB pension
liabilities. How do you decide which of combination of solutions is appropriate
in your particular circumstances and when is the best time to implement them to
help you achieve your objectives for managing pension risk? This session
answers these questions.
Pick and Mix the Sweet Solutions
