The Pensions team at KPMG would like to invite you to attend one of our Pensions for Breakfast events taking place this Autumn. The event is applicable to anyone who has a responsibility for pensions - Defined Benefit and Defined Contribution, including Trustees, pension managers, FDs and HR managers.
This Autumn’s agenda will cover some of the big issues effecting you now. We will facilitate interactive table discussions led by KPMG specialists giving their own perspectives as well as enabling you to hear the experiences of other companies and schemes. If there are any subjects you would like us to address, please get in touch through one of the points of contact listed below.
The topics for discussion at this event will include:
Plenary: A chance to hear your views and challenge the specialist
Question #1: If you were able to design a completely new pensions landscape from scratch, which single defining characteristic or component would you prioritise above all others? Question #2: Working within the confines of the existing pensions landscape, if you had the power to make just one operational change or tweak, what would it be?
Option 1. Benefit design: The Budget, the end of contracting out – what does this mean for you?
From April 2016, final salary pension schemes will no longer be able to contract out of the state second pension. This means national insurance contributions will rise for both employers and members. Many predict this be the final nail in the final salary pension coffin. We will look at the developments in DC pensions post auto enrolment and the move by many employers to focus increasingly on wider flexible benefit packages to reward staff, alongside pension savings. We will consider communications, providers and governance.
Option 2. Buy-out pricing – hear from the horse's mouth
What makes a good de-risking strategy? How do you reduce the premium required to buy-out? Hear the answers straight from horse’s mouth! With insights from KPMG’s new recruit, Adam Davis, has spent the last six years as the pricing actuary for MetLife, specifically pricing buy-out (and buy-in) policies for DB pension schemes. We will lead you through the dos and don’ts of buy-out strategies (however short or long term they may be) to get the best possible terms for your scheme.
Option 3. Integrated Funding Framework – how does the new code change things?
The new funding code of practice from the Pension’s Regulator places the emphasis on a “balanced” approach, and moves away from the concept of “reasonable affordability”. We will explore what the new code of practice will mean in practice for Trustees and sponsors, to build a framework which successfully integrates covenant, investment and actuarial advice. We will share client case studies and take you through examples, using award winning KPMG FUSION software.
Option 4. Liability Management – there’s more you can do
Most pension schemes have now considered liability management options at some stage. Many have completed these exercises (with varying degrees of success). But have you exhausted all of your best options? Most schemes haven’t. We will explore how the 2014 Budget, the requirement for transfers out to be accompanied by advice, and the Code of Good Practice have re-shaped liability management exercises, and how you can make the most of the members options available.
Option 5: Ways to save money on pensions
The cost of providing DB pensions continues to rise, even when your scheme is closed to accrual. But what can you do to reduce these costs? We will share with you ways you can save money on your pension scheme costs, such as on PPF levies, tax and operational efficiencies.