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About this webinar:

While many defined benefit schemes are now closed to new and existing members, there are still a sizeable number that remain open in some form and shouldn’t be overlooked.

Indeed, according to the Pension Protection Fund’s Purple Book 2020, some 11% of DB schemes remain open to new members and a further 41% remain open to future accrual – an open scheme total of over 2,700 schemes.

This webinar will help trustees and pension managers look at the challenges facing open DB schemes, specifically looking at the issues they could face as a result of The Pension Regulator’s new Funding Code of Practice and asking how this could affect the affordability of benefits, future service contributions, investment strategy and benefit design.

Presenters

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Jonathan Stapleton

Editor, Professional Pensions

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Jonathan is editor of Professional Pensions and has been reporting on UK occupational pensions since 2001. He has won a number of awards during his career, most recently the SPP Trade Journalist of the Year Award in 2019. He is also holder of the PMI's Retirement Provision Certificate.

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Paul Hamilton FIA

Partner and Head of Open Schemes, Barnett Waddingham

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Paul is Scheme Actuary to a number of pension schemes, and advises a range of UK businesses and trustee bodies on DB pension issues including scheme funding, benefit design and risk management.

His commercial focus and communication skills ensure his clients understand the relevant dynamics of their pensions responsibilities – whether advising a small employer who has had little previous pensions advice, or an experienced trustee board on an unusual issue.

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Elisabeth Browning

Pensions Manager, Grosvenor Britain & Ireland

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After nearly 30 years in the industry Lis has worked on a number of in house pension and benefit arrangements, covering diverse sectors and multiple challenges from arrangements such as UBS to Woolworths and also the ever changing legislative landscape. New challenges are never far away and she is passionate about ESG, promoting D&I in the industry and communicating the benefits of pensions.

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Stuart Southall

Chairman at Punter Southall Governance Services

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Stuart is an independent chairman and trustee to a portfolio of pension scheme clients. His extensive experience includes nearly 40 years in pensions, over 15 years as a chairman and over seven years as a chair of trustees. He has worked in the roles of trustee, scheme actuary and sponsor adviser with pension schemes varying in size from £15m to £4.6bn.

In 1988, he established Punter Southall with Jonathan Punter. This was the most successful start-up in the actuarial consultancy market for over 30 years and has grown as a business from only nine people to over 1,200 staff.

Stuart was an early editor of The Actuary and has sat on the Ethics Committee of the Association of Consulting Actuaries. He was also a non-executive director of Neptune Investment Management. He is a governor of two independent schools and a pro bono trustee of an educational trust.

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Chris Halewood

Trustee Director, 20-20 Trustees

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Chris joined 20-20 Trustees in January 2019 following the acquisition of CS Trustees.

During his 17 years with CS Trustees and its wider corporate benefits group, Chris undertook roles within both the regulatory & compliance and technical Support functions before becoming a director of CS Trustees in September 2014.

As the former chair of trustees for two defined contribution Master Trusts, one with in excess of 1,000 participating employers, Chris was responsible for managing the orderly exits of both schemes from the market via mergers into other ongoing arrangements ahead of the master trust authorisation regime coming into force.

Within 20-20 Trustees, Chris has a number of trustee appointments ranging from small defined benefit schemes with assets of just a few million pounds through to more complex hybrid arrangements with total assets in excess of £500m.

He is a chartered financial planner and fellow of the Personal Finance Society and brings a ‘no nonsense’, ‘solutions driven’ approach to pension trusteeship.

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Adrian Kennett

Director at Dalriada Trustees

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Adrian is a director of Dalriada Trustees, head of its ongoing trusteeship practice and an accredited professional trustee. During his 26 years in the pensions industry he has been appointed to some of the most challenging trusteeship cases, led teams of over 60 actuarial, administration and consulting staff, overseen some of the largest scheme buy-ins and buyouts, and overseen the wind-up of over 200 schemes.

A fellow of the Pensions Management Institute, his wider experience includes benefit rectification, debt compromise and scheme restructuring, scheme mergers and the implementation of complex investment strategies.

Adrian is accredited as a professional trustee by the Association of Professional Pension Trustees.

He sits as both trustee chair and a member of the board of trustees on appointments ranging from those with liabilities of less than £10m to those with liabilities of approximately £1bn.

His spare time he balances between his family and training for triathlons but says his two young daughters are probably both going to be better triathletes than he will ever be.

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