Pensions: The Problems and the Possibilities

Online symposium using interactive Zoom.

Wednesday, May 13th from 1:00pm until 5pm, UK time

Many thanks to our event sponsors:

Similar sponsorship opportunities are available; please get in touch through tina.kenyon@transparencytaskforce.org

Executive summary

Without being too dramatic about it, it’s easy to conclude that the pensions sector has never been as challenged as it is right now.

Some within the TTF pensions community are concerned the pensions and investment markets are still not yet delivering the outcomes they should be; and are wondering what’s holding back progress.

Are there conflicts of interest in the system?

Is the pensions sector starting to show signs of becoming self-serving?

Is the focus drifting towards the ongoing commercial success of the pensions industry, rather than on driving the best possible outcomes for pension savers?

Is the operating framework that governs the sector too influenced by short-termism driven by regulatory, political and policymaking expediency?

Some are concerned about many aspects of today’s pensions market, including

The persistent problem of ineffective disclosure on costs and charges
The whole value for money agenda; is enough happening quickly enough?
Clunky and clumsy, legacy tech systems that create a needlessly high cost base for the sector that thwarts the optimisation of outcomes
Whether ESG reporting is actually working well enough
The challenge of differentiating between authentic responsible investing and what might just be greenwash
Whether the existing trustee model is fit for purpose
Pension scams; particularly those relating to transfers out of DB schemes
Worryingly low levels of engagement with scheme members
Comms that most members still find baffling; linked to the previous point, maybe?
The threat to valuable tax concessions, given the state of the economy
Whether the pensions dashboard is going to deliver
Whether the regulatory framework is actually delivering on its statutory duties
The seismic impact of Covid-19 on funding levels; and lots more

Clearly, there is going to be a great deal to discuss!

If you want real and meaningful improvements to the pensions system please ‘stand up.not stand by’ – we need all the help we can get to galvanise support for positive, progressive and purposeful reform.

All places need to be booked in advance, please

To secure your place, please first click on the button below, then read the notes that explain the 4 ticket options (Standard, For TTF Fellows, Discounted and Press Pass) and then book your place.

Once your place is secured, we will Email all the details you need to be able to access the event through interactive Zoom.

For queries, please Email andy.agathangelou@transparencytaskforce.org

What’s the purpose of this symposium?

This symposium represents one more step forward in our collective efforts to galvanise support for positive, progressive and purposeful finance reform, for the benefit of all.

Our event is being run as part of a major international project about creating an over-arching framework for finance reform. At the heart of that framework for finance reform are the 12 Finance Development Goals that we are developing with the input from many members around the world.

We already know that the financial services sector as a whole has a significant reputation problem – the key takeaway from the Edelman Trust Barometer is:

“…at 57 percent trust among the general population, financial services remain the least-trusted sector measured by the Trust Barometer.”

…and that’s obviously a major issue for a sector that has to be trusted to function successfully.

It is clear that there is far too much adverse publicity about the financial services sector; and that it is having a long-lasting and highly damaging effect on the reputational integrity of the sector.

This is a serious and systemic issue that needs to be resolved.

Our symposium creates a first-class opportunity for a wide range of stakeholders to share their thoughts around what needs to be done; how best to do it and who should take responsibility for fixing what seems to be broken; or at least very badly damaged.

You can expect to be ‘amongst’ progressively minded and collaboratively minded people.

On the basis that “progress begins with realism” we will be facilitating the kind of candid yet constructive discussions that are needed to help move matters forward.

We are expecting this to be a particularly lively symposium because we will be creating a forum for people to “say it as they see it”

We don’t think any one person or organisation has all the answers; and we also think that all answers are worth listening to, so if you’ve got a point of view that you’d like to share, this is definitely an event for you.

Format

We’re in trying times; so, it’s time for agility and adaptability, resilience and innovation.

As a consequence, this symposium is being run as an online event.

We will be using interactive Zoom, a highly effective online platform which means we can run this symposium as an ultra-convenient and wonderfully efficient thought-leadership event for you; all this, without you needing to leave your home or office.

You’ll just need access to a computer with Broadband connection.

We will be structuring the event in such a way that it will be as engaging and as interactive as we can possibly make it. We’ll be working hard to create as “life-like” an event as possible, with every opportunity taken to create interaction and engagement.

There will be several presentations with Q&A sessions; breakout sessions where attendees will be able to discuss particular topics amongst themselves and then report back on their findings; and an open discussion and debate session towards the end.

Here’s the programme and timings, so far*

13:00

Welcome to the symposium, brief introductions and initial exploration of the main issues, by

Andy Agathangelou FTTF FRSA, Founder, Transparency Task Force; Governor, Pensions Policy Institute; former Founding Chair, Friends of Automatic Enrolment; former Founding Chair, Association of Member Nominated Trustees.

https://www.linkedin.com/in/andy-agathangelou-02953113

13:30

Presentation #1, for 15 minutes + 15 minutes Q&A with facilitated discussion, by

Jonny Ruck, Co-Founder & CEO at Scorpeo

https://www.linkedin.com/in/jonathan-ruck-24641587/

and

Sander Eijkenduijn, Co-Founder at Scorpio

https://www.linkedin.com/in/sander-eijkenduijn-1108b0167/

on “Opportunities to Optimise Outcomes”

14:00

Presentation #2, for 15 minutes + 15 minutes Q&A with facilitated discussion by

Chris Tobe CFA, Chief Investment Officer, Hackett Group; author of Kentucky Fried Pensions

https://www.linkedin.com/in/chris-tobe-cfa-1037734/

on “The Battle for Transparency in Pensions”

14:30

Short leg-stretch and comfort break, for 15 minutes

14:45

Presentation #3, for 10 minutes + 5 minutes Q&A with facilitated discussion, by

Dean McClelland, Founder & CEO, Tontine Trust

https://www.linkedin.com/in/deanmcclelland/

on “Curing the Global Pensions Pandemic with Tech”

15:00

Breakout & Report Back Session, on “What are the greatest challenges; and how should they be tackled?” for 30 minutes in total

– 20 minutes for discussion within the Breakout Group

and

– 10 minutes for the Report Back session

15:30

Presentation #4, for 10 minutes + 5 minutes Q&A with facilitated discussion, by

Andy Agathangelou FTTF FRSA, Founder, Transparency Task Force; Governor, Pensions Policy Institute; former Founding Chair, Friends of Automatic Enrolment; former Founding Chair, Association of Member Nominated Trustees.

https://www.linkedin.com/in/andy-agathangelou-02953113

on “Why we must rebuild trustworthiness and confidence in financial services; and how we can do it” – this session will focus on the issue of pension scams and our collective responsibility to help protect consumers from harm.

15:45

Presentation #5, for 10 minutes + 5 minutes Q&A with facilitated discussion, by

Henry Tapper, CEO of AgeWage; Founder, the Pension PlayPen

https://www.linkedin.com/in/pensionplowman/

on “Where are we on the journey to value for money in pensions?”

16:00

Short leg-stretch and comfort break, for 15 minutes

16:15

Open discussion & debate, 40 minutes

16:50

Final conclusions; and suggested next steps, by

https://www.linkedin.com/in/andy-agathangelou-02953113

17:00

Final close

*The programme will continuously evolve so is subject to change.

Jonny and Sander’s presentation slides:

All places need to be booked in advance, please

To secure your place, please first click on the button below, then read the notes that explain the 4 ticket options (Standard, For TTF Fellows, Discounted and Press Pass) and then book your place.

Once your place is secured, we will Email all the details you need to be able to access the event through interactive Zoom.

For queries, please Email andy.agathangelou@transparencytaskforce.org