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Rethinking DC

Alternative strategies for better retirements

London |
Speakers include:
Erica Beltrami

Erica Beltrami

Lane Clark & Peacock

Cindy Rose

Cindy Rose

Aberdeen Standard Investments

Maria Nazarova-Doyle

Maria Nazarova-Doyle

JLT Employee Benefits

Overview

Presented by Pensions Expert, in association with Aberdeen Standard Investments, this concise half-day forum will bring senior pension professionals together to discuss whether default fund portfolios are up to the task, and outline strategies that can deliver a better retirement for members.

The event will also explore how best to assess a scheme’s investment performance and whether it is delivering value for money and examine how schemes are implementing new regulations surrounding environmental, social and governance risks into their investment policy; as well as whether relaxing barriers to access in the private markets could help meet a scheme’s risk and return objectives.

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fallback Add to my Calendar 03/27/2019 08:30:0003/27/2019 13:00:00trueRethinking DCPresented by Pensions Expert, in association with Aberdeen Standard Investments, this concise half-day forum will bring senior pension professionals together to discuss whether default fund portfolios are up to the task, and outline strategies that can deliver a better retirement for members.The event will also explore how best to assess a scheme’s investment performance and whether it is delivering value for money and examine how schemes are implementing new regulations surrounding environmental, social and governance risks into their investment policy; as well as whether relaxing barriers to access in the private markets could help meet a scheme’s risk and return objectives.Rethinking-DCdb3919b28ab921a2c2df3ec1d5e3c11aMM/DD/YYYY

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Speakers (11)

Erica Beltrami

Erica Beltrami

Partner
Lane Clark & Peacock

Erica Beltrami is a qualified actuary with over 15 years’ experience. Erica has a comprehensive knowledge of the DC market and can bring to life the latest ideas and solutions available for DC schemes.  She has a particular focus on DC investment strategy – supporting trustees in implementing DC investment arrangements that are expected to improve member outcomes.  Erica has an extensive background in investment manager research – leading our efforts in this area to help ensure our DC clients have access to the best products. 

She works with some of LCP’s largest clients, who say that her personal touch is key to our successful and collaborative partnerships.  Erica helps them navigate through often complex and challenging situations, providing clear advice on how they can enhance their offering to their pension scheme members.

Cindy Rose

Cindy Rose

Head of ESG Clients & Products
Aberdeen Standard Investments

Cindy heads ASI’s product and client ESG work. Before joining ASI through Aberdeen Asset’s merger with Standard Life, Cindy co-headed Stewardship, overseeing all aspects of ESG for the group, including ESG policy setting and integration techniques into the investment process across the asset classes. Cindy headed the ESG team, members of which now sit with ASI’s regional equity teams around the globe. She represents ASI as a member of SASB’s Investor Advisory Group and has worked with a number of associations and government related bodies who are looking closely at ESG related topics and policies. Before joining Aberdeen Asset Management in 2000, Cindy worked at the US Tax Court in Washington DC.

Maria Nazarova-Doyle

Maria Nazarova-Doyle

Head of DC Investment Consulting
JLT Employee Benefits

Maria is Head of JLT’s DC Investment Consulting team, where she is tasked with enhancing JLT’s DC proposition through market leading research, development and advice for the wide variety of DC pension arrangements. She is also spearheading the investment research and client services for JLT’s multiple-award winning corporate pension proposition, supporting employers with GPP and master trust arrangements.

Maria combines her research and thought leadership role with her client facing role, advising a diverse portfolio of DC trust and corporate clients. She is also JLT’s media spokesperson and a regular speaker at DC industry events.

Maria joined the JLT team in early 2013 from Capita Employee Benefits, where she was mainly focussed on DC advice, although prior to this her background was predominantly in Private Equity.

She holds an MSc in Strategic Planning and Investment from Newcastle University Business School and is a CFA charterholder. 

Nico Aspinall

Nico Aspinall

Chief Investment Officer
B&CE provider to The People’s Pension

Nico Aspinall is the Chief Investment Officer at B&CE. Previously, he was Head of Defined Contribution (DC) Investment at Towers Watson, and Head of DC for the Barclays staff pension scheme.

He also chaired the Resource and Environment Board and is a member of the Institute and Faculty of Actuaries Council.

Nico is a qualified actuary and has published papers on resource depletion and monetary sustainability – working to ensure climate change and other sustainability issues are understood and acted upon by actuaries where appropriate.

Richard Butcher

Richard Butcher

Managing Director
PTL

Richard Butcher joined PTL in 2008, becoming Managing Director in 2010. Richard has responsibility for a wide and diverse range of clients with a specific focus on governance in both DB and DC pension schemes. He is a Fellow of the Pensions Management Institute and was, until 2017, on the PMI Council. He is Chair of the Pensions and Lifetime Savings Association (PLSA). Richard won the Pension Insight DC Trustee of the Year award in 2015, was named as one of the Top 50 Most Influential People in Pensions in 2017 as well as in 2016, 2015, 2014 and 2012 and as one of the 100 Most Influential People Working in Europe’s Capital Markets in 2014 by Financial News, based on his work with large DC trusts. He has been nominated for the “Outstanding Individual Contribution to Pensions” award at the Financial News Awards 2015 and Highly Commended in the 2010 & 2011 Engaged Investor Independent Trustee of the Year Awards. Richard was also a member of the FCA’s Institutional Disclosure Working Group (the “IDWG”), the Investment Association’s Independent Advisory Board for transaction costs, The Pensions Regulator DC Practitioner Panel and the DWP Trustee Panel. He was a founder of the Mastertrust Association and co-Founder of The Association of Member Nominated Trustees.

Andy Cheseldine

Andy Cheseldine

Professional Trustee
Capital Cranfield

Andy Cheseldine joined Capital Cranfield Trustees in 2017.

Before joining Capital Cranfield, he has acted as adviser to trustees and employers at Watson Wyatt, Hewitt Bacon & Woodrow and latterly as a partner at LCP.

He has a substantial experience in advising on regulatory, governance, change management, investment (particularly asset security), provider selection and communication issues.

He was appointed as Chair of Trustees to the Smart Pension Master Trust in September 2017.

He was elected to the DC Council of the Pensions and Lifetime Savings Association (National Association of Pension Funds at the time) in 2013 and re-elected in 2016.

Mark Fawcett

Mark Fawcett

Chief Investment Officer
NEST

Mark Fawcett is Chief Investment Officer at NEST where he leads the Investment Team and sets investment strategy.  He joined NEST in 2008. Prior to that he was Head of Japanese Equities at Gartmore. Before that he served as Chief Investment Officer at American Express Asset Management.  In his early career he was a Partner at the boutique investment manager, Thames River Capital LLP. Mr Fawcett holds an MA in Maths and Philosophy from Oxford University and an MSc in Management from London Business School. 

Andrew Harrison

Andrew Harrison

Director
LawDeb Pension Trustees

In his current role as Director of LawDeb Pensions Trustees, Andrew Harrison works with an industry task force, has introduced reporting standards into fiduciary management and has made a large contribution to the design, implementation and ongoing monitoring of the strategies for many of the UK’s largest pension schemes. He has held previous positions at Aberdeen Asset Management as Head of Fixed Income Product Specialist, BlackRock as a Managing Director of Global Client Group and Multi-Asset Client Solutions and Barclays Global Investors as Managing Director and Head of UK LDI Strategy. Mr Harrison currently chairs two DB pension schemes and is a trustee for a number of other schemes of varying sizes. He is also a trustee on a number of DC committees and sits on investment committees with financial services sponsors.

Kevin Milne

Kevin Milne

Head of Investment Proposition Strategy and Development
Aberdeen Standard Investments

Kevin Milne joined Standard Life Aberdeen in March 2013 and leads the team responsible for the design of investment propositions for DC workplace members, retail advisers and individual customers via our distribution partners. A key part of his role involves developing packaged products and services (such as default investment strategies, choice architectures, member journey development, decision support tools, education and guidance) with the aim of making it easier for those saving for retirement (individually or via a workplace DC pension scheme) and/or accessing their money in retirement, to achieve their desired outcomes. 

Kevin has approximately 20 years’ experience in financial services including roles with Franklin Templeton, where he was Product Strategy Director responsible for developing investment products to meet the needs of retail and institutional clients in the UK and Europe, as well as Scottish Widows Investment Partnership and Edinburgh Fund Managers.     

Julius Pursaill

Julius Pursaill

Chair of The Board of Trustees DC
RBS

Julius spent his executive career working with DC pensions in both the insurance and asset management industries. He led the then market leading institutional DC business as a Board Director of Mercury Asset Management Plc and subsequently Merrill Lynch, developing one of the first bundled institutional DC propositions. In his subsequent non executive career Julius has held a number of independent pension and investment governance roles. He was one of the Founding Trustee Directors of NEST Corporation and chaired both its investment and  risk  committees. He currently chairs the DC governance committee for the multiple award winning Heineken contract based scheme and is Chair of Trustees for the RBS DC scheme, one of the largest DC schemes in the U.K. He holds governance roles for two major insurance companies with responsibility for around £200 billion of assets. He chairs the Investment Advisory Committee for Royal London, which oversees the award winning Governed Range and sits as an independent member of their board investment committee. Julius is also a member of the with profits committee for Prudential. Julius has advised a wide range of clients on governance matters, including Blackrock, USS and Capita. Julius also has an interest in the increasingly important role technology can play in good governance – he was a Non Executive Director of Barrie and Hibbert (now Moody’s Analytics) and is currently a Director of Byhiras Trust. Byhiras is dedicated to removing the information asymmetry between asset owners and asset managers.

Shri Rengasamy

Shri Rengasamy

DC Innovation Leader
Mercer

Shri Rengasamy is a Senior Consultant who also leads the innovation agenda for Mercer’s UK DC & Individual Wealth business. In this role, he works with clients and other industry bodies to create products and services to meet the future needs of the workplace savings industry. As an investment consultant, Shri is experienced in advising companies and trustees on the full spectrum of investment consulting issues affecting defined contribution and workplace savings arrangements, including investment strategy, portfolio construction, risk management, manager selection, performance monitoring and transition coordination. 

Prior to joining Mercer’s DC team in 2013, Shri was a Senior Analyst within Mercer’s Wealth Management and Investments businesses. His experience and knowledge of both retail and institutional investments has led him to specialise in DC consulting. He is also one of the founding members of Mercer’s UK DC & Savings business.

Shri is a Fellow of the Institute and Faculty of Actuaries and graduated from the London School of Economics and Political Science with a BSc in Actuarial Science (First Class Honours) in 2009.

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Co-chairs (2)

Pádraig  Floyd

Pádraig Floyd

Money Journey Media

Pádraig Floyd is an award-winning financial journalist who writes on personal finance subjects, particularly pensions, investments and workplace savings. A regular commentator on pensions and investment issues, Mr Floyd shares views via Twitter at @gogetemfloyd, his website www.moneyjourney.net and his Linkedin profile at bit.ly/padraigfloyd. He was a member-nominated trustee director of the Pearson Group Pension Plan and is a former committee member of the Association of Member-Nominated Trustees. 

Angus Peters

Angus Peters

Editor
Pensions Expert

Angus Peters has reported on a wide variety of issues affecting DB and DC schemes since joining Pensions Expert in June 2016. Having been introduced to the world of pensions and investment as an intern at Pensions Expert and MandateWire, he went on to work as a reporter at The Sun Online before returning to the FT.

Agenda - 27th Mar

  • 8:30am
    Registration
  • 9:00am
    Opening Remarks

    Pádraig Floyd, Financial Journalist

  • 9:05am
    Presentation - Default fund – meeting challenges and delivering outcomes

    Kevin Milne, Head of Investment Proposition Strategy and Development, Aberdeen Standard Investments

  • 9:35am
    Panel – How do you assess investment performance of DC schemes and its contribution to delivering value for money?
    • Would including investment performance more formally in the value for money assessment encourage greater similarity between schemes’ investment strategies? Is that desirable?
    • If investment performance is assessed on a net of fee basis should that mean that investment costs are taken out of the charge cap?
    • Is the existing value for money framework fit for purpose? How could it be improved?
    • What benchmarks are being used to assist in monitoring and evaluating longer term plan performance for members?
    • What data should IGCs report when assessing resulting investment performance?
    • How is cost clarity enabling trustees to understand and determine value for money?
    • Are members getting sub optimal outcomes as a result of the DC charge cap?
    • Do we need to establish industry metrics for assessing value for money?

    Andrew Harrison, Director, Pension Trusteeship, Law Debenture

    Shri Rengasamy, DC Innovation Leader, Mercer 

    Richard Butcher, Managing Director, PTL 

    Julius Pursaill, Chair of The Board of Trustees DC, RBS 

    Moderated by Pádraig Floyd, Financial Journalist

  • 10:20am
    Coffee Break
  • 10:45am
    Dual Interview – Integrating ESG investment in DC default strategies
    • How are DWP regulations being implemented by trustees?
    • Would universal terminology and understanding of ESG assist trustees in their investment decision making process?
    • How can trustees best demonstrate how they are taking ESG into account?
    • What steps are trustees taking to engage with investees companies to promote high governance standards?
    • What should trustees take into account when selecting assets for their scheme’s portfolio?
    • How are trustees consulting with members about their investment policy and best demonstrating how members’ views are taken into account?

    Cindy Rose, Head of ESG Clients & Products, Aberdeen Standard Investments

    Mark Fawcett, Chief Investment Officer, NEST Corporation 

    Moderated by Angus Peters, Editor, Pensions Expert

  • 11:15am
    Panel – Private Markets: Delivering better returns
    • Is now the time to consider illiquid assets? Could we see a relaxation of regulation to allow investment in a wider range of assets?
    • How can allocations to private assets potentially help meet a portfolio’s risk and return objectives, while maintaining a buffer of liquidity to cover liabilities?
    • What lessons can be learnt from the US and Europe?
    • How can diversification be managed efficiently to deliver better outcomes?
    • ESG has become a key component in investment, how do you approach the question of sustainable investing in private markets?

    Andy Cheseldine, Client Director, Capital Cranfield Trustees  

    Maria Nazarova-Doyle, Head of DC Investment Consulting, JLT Employee Benefits 

    Erica Beltrami, Partner, Lane Clark & Peacock

    Nico Aspinall, Chief Investment Officer, B&CE provider to The People’s Pension

    Moderated by Angus Peters, Editor, Pensions Expert

  • 12:00pm
    Closing remarks

    Angus Peters, Editor, Pensions Expert

  • 12:05pm
    Lunch

Why Attend?

  • An exclusive concise half-day event specifically focusing on Defined Contribution Pensions discussing whether default fund portfolios are up to the task, and outline strategies that can deliver a better retirement for members.
  • Chaired/moderated by Financial Times Group journalists, you will hear from an excellent mix of speakers including pension funds, pension scheme trustees, consultants and experts from Aberdeen Standard Investment.
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Who Attends?

FT Live has a reputation for delivering senior board level audiences to attend a wide range of world class thought-leadership events across the globe for nearly 40 years.

Attendance is complimentary for Pension Scheme Investment Decision Makers including:

  • Scheme Managers
  • Heads of Pensions
  • Trustees
  • Pension Scheme Board Members
  • Independent trustees and consultants

*Places are strictly limited and subject to approval by the Publisher.

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Presented By (1)

Pensions Expert is the Financial Times' specialist title for UK workplace pension schemes. It is the authoritative source of information on how these schemes and their sponsoring employers are working together to provide their members with an adequate retirement income.

Our case studies, news analysis and informed comment provide trustees, management teams and their providers with timely, practical information to inform their day-to-day jobs.

In Association With (1)

Aberdeen Standard Investments is a leading global asset manager dedicated to helping investors around the world reach their desired investment goals and broaden their financial horizons.

We provide expertise across a breadth of markets, asset classes and investment approaches. Approximately 1,000 dedicated investment professionals are located globally, close to our clients and the markets where we invest. Additionally, 500 client specialists work closely with investors and advisors to understand our clients’ needs and deliver world class investment solutions.

As at 31 December 2017, we manage €649 billion (£576 bn/US$779bn) on behalf of governments, pension funds, insurers, companies, charities, foundations and individuals in 80 countries.

Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.

Venue

Financial Times Headquarters
One Southwark Bridge
London SE1 9HL

United Kingdom

Tel: +44 (0) 20 7775 6653
Email: ftlive@ft.com

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